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Published Date:
01 Jan 2008
Fishman Holdings, one of Israel's largest private investment groups, has plans to invest $2 billion in a project in Jaipur, Rajasthan.
The plan includes a 40,00,000 sq. metre township which will include commercial space, high-tech space, offices and residential complexes.
Mondon Investments, the real estate firm's subsidiary, has bought a 600-acre plot in the city for approx. Rs.430 crores and is likely buy more land.
Mondon is involved in several other development projects in India that include commercial and residential projects in Ludhiana, Punjab; Thane, Maharashtra; Hyderabad, Andhra Pradesh; and Delhi.
Jaipur, until now considered a safer investment by Mumbai based investors now seems to be getting some serious money for its development. Standalone projects like these are likely to bring in some end users and more local money into this market as well.
Jaipur, though a famous locations o the tourist map of India, has been ranked much lower on the commercial & institutional presence. This, in part has also been the reason for it being less prominent on the investor radar.
Possibly, this project may bring winds of change to this market.
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