Tshuva to build Las Vegas hotel

Elad Properties will invest hundreds of millions of dollars in a hotel on the Strip.

Yitzhak Tshuva will invest hundreds of millions of dollars through his private company, Elad Properties, in building a hotel on the Las Vegas Strip. Tshuva has been planning to float the company in the US for a long time.

Las Vegas has drawn several Israeli developers, and some of them may join in Tshuva’s hotel venture. Africa-Israel chairman Lev Leviev and US tycoon Shaya Boymelgreen are building a 4,500-room hotel and commercial complex on the Strip. Poju C. Zabludowicz owns land in the downtown area, Nochi Dankner’s IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Property and Building Ltd. (TASE: PTBL) is building 1,300 upscale apartments in the city, and BSR Engineering and Development Ltd. is also building a luxury hotel and residences.

Published by Globes [online], Israel business news - www.globes.co.il - on March 11, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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