Industrial Building Buys Dusseldorf Land for Development

Industrial Building Corporation (TASE: IBLD)  has won a tender to buy land in Germany for 5 million euros.

The Dusseldorf plot bought by the company, which is controlled by Eliezer Fishman, is zoned for building a 15,000-square meter residential or commercial project. The company means to try to buy adjacent land, expanding the area of construction to 32,000 square meters.

Earlier this week Industrial Building signed an agreement to buy four shopping centers and a logistics center in Germany for 8.7 million euros.

Shares in Industrial Building have risen by 22% this year.