FILED UNDER SOMETHINGISRAELI >> Business
Israeli based Polar International Real Estate is upping its UK property portfolio by investing $15m in a new joint venture.
According to Israeli business website Globes, the Polar Investments subsidiary has joined forces with two other partners and will own 39% of the company which will look to build commercial related property including shopping centres.
One plan is to build warehouses with office facilities above them.
The partners first project being considered is a $14m development in Hemel Hampstead in Hertfordshire just outside north west London.
In the US, its owns valuable real estate in New York as well as in central and eastern Europe.
In Israel it has a wide range of commercial interests including a stake in the Jerusalem Light Rail system.
Outside of property, Polar Investments portfolio of business includes telecommunications, media and technology.
For more information: www.pil.co.il