Residential Township Project In Mysore

PBEL Property Development (India) Pvt Ltd, a collaboration involving Israel's Property and Building Corporation (PBC), Electra Real Estate (ERE), and INCOR Infrastructure, has committed an investment of twenty crore rupees to establish a residential township in Mysore.

Disclosing this significant development, Anand Reddy, the executive director of PBEL, shared that, "The Company has invested twenty crore rupees on a ten acre plot of land at Devanoor village along the ring road in Mysore to build a residential township. This is in tune with our strategy to build a land bank in secondary cities across south India." He further noted that the company is also evaluating Coimbatore in Tamil Nadu and Vizag in Andhra Pradesh for potential substantial investments.

To date, PBEL has allocated five hundred crore rupees towards real estate ventures and continues to seek additional investment opportunities throughout the southern region of India. The firm plans to construct high-quality, high-rise apartment buildings equipped with modern amenities, all set within eco-friendly environments. To ensure compliance with international standards, PBEL will engage globally recognized products and consultants from abroad who have been involved in prestigious projects worldwide. This recent investment adds a ten-acre residential land acquisition in Mysore to PBEL's portfolio, which also includes fifty-eight acres in Hyderabad and forty-two acres in Chennai designated for a mixed township initiative.

PBC, part of the IDB Group, operates in the real estate sector across North America, Europe, and Asia. The IDB Group is Israel's largest business conglomerate, boasting global assets exceeding twenty-seven billion dollars. Notably, PBC is heavily involved in developing the Las Vegas Plaza hotel. Similarly, ERE ranks among Israel's premier real estate firms, with ownership of over one hundred nine properties and fifty-eight hotels across Europe and North America, also functioning as a subsidiary of Elco Holdings, a major player in Israel's business landscape.