Lev Levaev, owner of Africa Israel Investments
Photo: Ilya Pitalev
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Israelites to Invest $200m in Russia’s Housing
Lev Levaev’s Africa Israel Investments and its subsidiary Danya Cebus Ltd. intend to invest up to $200 million in constructing houses in Russia’s Perm, Reuters reported.
Of all project budget, Danya Cebus will provide no more than $80 million, while some unidentified Russian partner will funnel the remainder.
The same Russian partner will plan and arrange marketing for the project to construct dwellings in the area of 20,000 square meters allocated for office and trading premises.
The Perm undertaking won’t be the first Russia’s project of Levaev. Africa Israel decided to enter the market of St. Petersburg in late January by building a $30-million trading complex there. The company is also aggressive on the markets of Moscow and Kislovodsk.
In addition to construction, Africa Israel is involved in the power engineering and hotel businesses. Its stake in Danya Cebus stands at 73.4 percent.
www.kommersant.com
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