On August 6, Benjamin Netanyahu, Prime Minister of Israel asked collaboration of Indian real estate developers with the Israeli counterparts to boost profitability and productivity.
The Prime Minister, while addressing realtors in CREDAI conference through video messaging said Indian and Israel are already partnering in several areas such as security, Cyber and IT, agriculture and now construction and real estate.
He added that, CREDAI’s conference in Israel, which is a sign of the further strengthening of ties between the two nations. He said that “The future belongs to those who innovate … Israel is an innovation nation.”
The Prime Minister said “Technology is changing every industry, including the construction industry. The confluence of big data, connectivity, artificial intelligence is revolutionizing the world and no area is going to be exempt”.
“Prime Minister Narendra Modi and I recognized 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,” he said.
He explained the benefits of partnering with Israeli real estate developers. He stated that “You can increase the productivity and profitability of your enterprises by partnering with Israelis who are eager to partner with you to seize the future together.”
Indian Ambassador to Israel Pavan Kapoor, while speaking at an even told the developers that the scope for collaboration between the two nations in the real estate and construction sector is significant. He added that the bilateral trade between India and Israel stands at around $5.5 billion, of which only $102.6 million is in construction services.
CREDAI is the apex body of the industry. There are around 12,000 builders as its members. In the national conference NATCON, about 1,000 builders from around 200 cities in India are participating in this event. It is reportedly the biggest Indian business conference in Israel.