AVIV: There are several investment opportunities between Israel and India in the real estate sector in the new year, said a top official of the world's largest commercial real estate consulting firm CBRE.
Giving a push to Indo-Israel partnership in the real estate sector, the US-based CBRE (Coldwell Banker Richard Ellis) Inc had helped to organise the national conference of Confederation of Real Estate Developers' Associations of India (CREDAI) in Tel Aviv in August 2019.
"Bolstered real estate investment in the country is augmenting the existing trade ties between India and Israel. As both countries identify new opportunities, potential areas of collaboration and new business-generation avenues, we can also expect several investment opportunities between the two countries as we go into the new year," said Anshuman Magazine, CBRE Divisional President, India, South East Asia, Middle East & Israel.
"With expanding market opportunities and abundant skilled talent, CBRE has strong growth plans for the Israeli market," he told PTI.
CBRE was CREDAI's knowledge partner during its national conference when over a thousand Indian realtors from more than 200 Indian cities participated.
Israel's then prime minister, Benjamin Netanyahu, while addressing the conference had urged Indian real estate developers to partner with their Israeli counterparts to boost productivity and profitability.
Stating that the world is changing rapidly because of technological advancement, he pointed out that technology is changing every industry, including the construction industry.
The confluence of big data, connectivity, and artificial intelligence is revolutionising the world and no area is going to be exempt.
"Prime Minister Narendra Modi and I recognised this and that is why we are fostering closer relations in every field from security, to cyber, IT, agriculture and now we have construction and real estate," Netanyahu had stressed.
"You can increase the productivity and profitability of your own enterprises by partnering with Israelis who are eager to partner with you to seize the future together," he told the participants at the event.
Meanwhile, CBRE has appointed Chaim Agi as its new Managing Director for Israel.
He would succeed Jacky Mukmel.
"Over the decades, Chaim has constantly delivered excellence. With his deep understanding of the Israel market, we are confident that he will further strengthen our business in the country," Magazine said in a company release.
Agi said Israel continues to project great potential; and with the overall economy and business climate looking up, "we expect growth opportunities in the near future.
Agi has been associated with the company for the last 25 years and in his new role will focus on driving further growth and ascertaining business goals for the region.
CBRE Group, a Fortune 500 and S&P 500 company, is the world's largest commercial real estate services and investment firm based on 2020 revenues.
The company has over 100,000 employees in more than 100 countries.
It serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management, property management, investment management, appraisal and valuation, property leasing, strategic consulting, property sales, mortgage services and development services.