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Israelis investing in Philippines

Published: Feb. 28, 2006 at 9:06 AM

MANILA, Philippines, Feb. 28 (UPI) -- Africa Israel Investments Ltd., an Israel-based conglomerate, will invest as much as $300 million in the Philippines.

The Tel Aviv-listed conglomerate, owned 80 percent by diamond magnate Lev Leviev, is joining Filinvest Development Corp. through the acquisition of 40 percent of Cyberzone Properties Inc, a Filinvest subsidiary involved in information technology park development.

AII investments will focus on real estate, infrastructure, energy and water sectors, Asia News Network said Tuesday.

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