When Plaza Centers had its IPO in 2006, the company said it would invest in India. Now, it has founded a joint venture with Elbit Imaging, a company with shares in Plaza Centers. The joint venture will work with Indian partners and start with three projects: Bangalore, Chennai and Kochi island. Each of them provides for construction of office buildings, flats and hotels.
Construction works should be started next year and be concluded within 3-5
years. The budget of the investments amounts to USD 3.4bn. The partners of the
joint venture will provide USD 1.9bn. they hope that the rest will come from
future buyers of their flats.