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Thursday, 24 July 2008 |
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PROPERTY :Industrial Buildings Corp, an Israeli real estate company controlled
by Eliezer Fishman, agreed to spend 100 million shekels ($29 million or 953
million baht) for a 50% interest in a venture to develop two buildings in
Bangkok.
The project, which it will build with three Thai partners, will
include a 70-floor residential, hotel and commercial structure, Herzliya
Pituach, Israel-based Industrial Buildings said in a statement to the Tel Aviv
Stock Exchange yesterday.
The residential area will take up 55% of the
total tower while the hotel and commercial space will occupy 20% and 25%
respectively of total area, it said.
The Thai companies involved in the
development are currently seeking to expand the current 12,300 square metres
designated for the two buildings by 20%, the company said. The towers are
scheduled to be completed by 2012, Industrial Buildings Corp said.BLOOMBERG NEWS
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