The company expects NIS 642 million in proceeds from the projects altogether.
Aura Investments Ltd. (TASE:AURA) has bought properties in Ploesti, Romania, and Aktau, Kazakhstan in two separate transactions.
In Ploesti, the company bought a lot, zoned for 265 apartments. The company estimates the cost of the project at NIS 134.1 million, including the land, and predicts NIS 170 million in proceeds.
In Kazakhstan, Aura subsidiary Aura Europe SA has acquired 75% of Falcon Real Estate LLP for $5 million. Falcon owns three lots in Aktau, called “Premium”, zoned for a 29,334-sq.m. office building; “Pearl”, a lot zoned for 256 apartments and a shopping center; and “Emerald”, a lot zoned for 96 apartments and a shopping center. Aura estimates the total investment in these projects at $75.7 million (NIS 326.2 million), and predicts the total proceeds at $109.8 million (NIS 472.4 million).
Published by Globes [online], Israel business news - www.globes.co.il - on August 5, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007