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Israeli firm to build shopping malls in India

December 27, 2005 15:00 IST

An Israeli firm, Elbit Hadmaya, is planning to invest billions of dollars in India to build shopping malls, a media report in Jerusalem said on Tuesday.

Moti Ziser, the head of the company, sees a huge untapped potential in this area given very few shopping malls for such a large population in that country, daily Yediot Ahronoth reported.

The firm plans to build shopping malls in several cities across the country.

Elbit is trying to take advantage of its vast experience gathered in this field in East Europe where it has built some 26 malls so far starting from one in Budapest a few years back, the report said.

The company invested over a billion dollars in East Europe.

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