Interesting development in Chennai real estate markets in deed. An Israeli real estate firm has invested USD 135 million in a Chennai project to develop mixed-use high-end residential and commercial complexes, a media report here said.
Elbit Medical Imaging Ltd (EMI), a Nasdaq listed Israeli firm, has bought 80 per cent of a 135 acre plot in the southern city from an unnamed Indian developer, who will own the remaining 20 per cent, business daily ‘Globes’ reported.EMI will invest more than $150 million in the land for the project and estimates revenue of over $4 billion.
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Chennai is booming! The 135 Million USD investment by EMI isnt the biggest in Chennai.Only last week , Nitesh Estates announced a 160 Million USD project in boat club area. Let me assure you, theres a lot more remianing to see . At Connection Point, we are talking with a few large golbal developers who are interested in investments in Chennai to the tune of 1.3 Billion USD. The markets are charging and change, its time for us to change too..
Yasser Rahman
Connection Point
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