The Village at Queensridge is 135,000-sq.m. luxury residential, commercial and office project.
IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Property and Building Ltd. (TASE: PTBL) has begun construction of a 70,000-sq.m. office and commercial complex in Las Vegas at an investment of $400 million. The complex is part of the 135,000-sq.m. Village at Queensridge luxury residential, commercial and office project. Construction is expected to take 30 months.
Property and Building said the area surrounding the shopping center has 410,000 residents in the above average socioeconomic bracket.
The company, together with a local partner, is building three projects in Las Vegas: One Queensridge Place, a luxury residential project, in which the developers have already sold 149 homes of the 219 units in the first stage for $330 million; the Village at Queensridge; and Sahara, a 500-unit residential project.
Published by Globes [online], Israel business news - www.globes.co.il - on December 5, 2006
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