www.bethelfinance.com
Meshulam Levinstein Contracting and Engineering Ltd. and its Indian partner have signed a memorandum of understanding (MOU) to sell an 85,000-square meter office building that they will build in Mumbai for $100 million. The building is located near Mumbai's Chatrapati Shivaji International Airport.
The building is part of a vacate and build project on a 20-hectare site in which Levinstein will build 1,000 apartments in 11 nine-storey buildings. 400 families have already received new apartments in the project.
Levinstein also owns 54% of an Indian company that is building a gated community with 600 houses on a 33-hectare site in Mysore.
Levinstein's share price rose 3% today to NIS 33.51, giving a market cap of NIS 120 million.
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