BSR Europe in talks to join Romanian, Kazakh projects

Deals

The Israeli company will finance the deals with the NIS 600-700 million ($142-165 million) in proceeds from the sale of properties to Africa-Israel Properties and other pending deals.

BSR Engineering and Development Ltd. subsidiary BSR Europe Ltd. is negotiating to buy large lots in Romania and Kazakhstan at a cost of hundreds of millions of shekels. The company said that the Romanian lot is zoned for thousands of apartments, involving an investment of NIS 2 billion ($473 million), and that the Kazakh lot is zoned for a large residential, hotel, office and commercial complex, involving an investment of NIS 1.8 billion.

BSR Europe said that it had not yet signed a memorandum of understanding (MOU)) or any sales deal in either negotiations. The company has also not concluded the prices for the lots and/or its share in the land sales or projects planned for them. (globes.co.il)

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