As his own companies website puts it Jacob Engel is the richest Israeli businessman you don’t know.
The things Engel did during the 3 years since he founded Engelinvest Group are hard to grasp in local business terms, even if one takes into account his impressive resume in real-estate. Winning the huge tender for mining iron ore in Liberia, Africa, last week is among the most important milestones in the Israeli business community. It is only part of Engel’s business activities – but presents imaginary figures , including over NIS 320 billion in expected revenue and almost NIS 100 billion profit for the company he owns within 20-25 years.
Add to the Liberian transaction Engel’s gold and copper mining in Tanzania and his diverse real-estate operations in India, Vietnam and Russia – and one can say Engel is surely making his way to becoming one of Israel’s richest businessmen,if not the very richest.He doesn’t suffer from lack of cash today either: the attempt to follow his gains from real-estate operations in the past decades positions him right at the top when it comes to personal fortune, along with more familiar figures such as Itzhak Teshuva and Shari Arison. http://www.elenilto.com/press/interview-jacob-engels-golden-touch/
Here is his bio according to his companies website
1951 – Engel immigrates to Israel from Croatia
1972 – Graduates machinery engineering studies at the Technion and establishes construction company
1991 – The company that grew and turned into Langa Holdings is issued on the Tel Aviv Stock Exchange
2007 – Lagna is sold to Azorim at a value of NIS 600 million (less then 200 million dollars ) and Engel establishes the Engelinvest Group which begs the question Where did he get the millions to “invest” in real Estate and mining Is he another front
2008– The group completed the purchase of approximately 75% of the 72 copper and gold mines in Tanzania – spanning 9,000km2 and at an investment of tens of millions of dollars. At the same time, Engel purchase a license to mine chromium in Albania but has not realized it yet. (In 2011 the Liberian Anti Corruption Panel started an investgatin into corrupt practices by Engelinvest It doesnt take much to guess how the Tanzanian deal was won ….. bribe bribe and bribe some more )
2010 – Engelinvest wins iron mining tender in Liberia Elenilto will pay Liberia an advance payment of $ 25 million, annual payments, which were described as “social donations”, of $3 million a year upon commencement of production, and 21% of profits in the project, after return of investment, with a 22.5% yield for Elenilto.
2011 – Engelinvest sells the concession to Anil Aggarwal owned Vedanta for 90 million dollars after the Liberian Anti Corruption Panel begins a probe against the deal
After he realised that mining in Africa wasnt all that risk free he vetured into real estate He entered the real estate markets of India Russia and Vietnam
Established by Mr. Jacob Engel , ENGELINVEST GROUP is a global real estate development corporation
The group is focused on real estate development projects in emerging markets, such as India, Vietnam and Russia, and on global Mining in Africa , and Metals Trading and Finance Globally .
INDIA TOTAL INVESTMENT 1.2 BILLION DOLLARS
Mohali (Punjab)– 115 million US dollars
Projects:Location: Sector 110, destination shopping mall, built up area 92040 sqm. Total investment $69,000,000.
Location: Sector 104, residential apartments and commercial space.
built up area: 221,854 sqm. Total investment $46,000,000.
Dona-Paula, Cortalim , Panaji (Goa) – 400 million US dollars
Projects:Dona-Paula, luxury villa project, build up area: 50,000 sqm. Total investment $54,000,000.
Cortalim, luxury villa project, build up area:507,000 sqm. Total investment $309,000,000. (Strangely if you google Cirtalim Mega Project which is what a 1800 crore project is you get almost nothing )
Panaji, luxury villa project, Venosa share: 69%, land size: 26 acres, build up area: 80,000 sqm. Total investment $50,000,000.
Pune (Maharashtra) – 80 million US dollars
Project:Location: Pune Satara Rd., destination shopping mall and offices building, build up area: 135,000 sqm. Total investment $80,000,000.
Jodhpur (Rajasthan) 56 million US dollars
Project:Location: Sardar Samand Rd., destination shopping mall and hotel , build up area 70,000 sqm. Total investment $56,000,000.
Faridabad (Haryana) – 46 million US dollars
Project:Location: Sector 21C, destination shopping mall build up area: 75,000sqm. Total investment $46,000,00.
Ludhiana (Punjab) – 241 million US dollars
Projects:Location: Delhi-Ludhiana NH1 Rd., destination shopping mall and offices building, build up area: 152,476 sqm. Total investment of $84,000,000.
Location: Chandigare-Ludhiana Rd., destination shopping mall, offices building and hotel, build up area: 225,000sqm. Total investment $157,000,000.
Hyderabad (Andhra Pradesh) –215 million
Projects:Location: Kukatpally-Rayadurgam Rd. (near Cyber Towers), destination shopping mall and offices building, build up area: 265,000 sqm. Total investment$162,000,000.
Location: New financial hub in Gachi Bowli, IT Park, build up area: 83,400 sqm. Total investment $53,000,000.