Africa-Israel Properties is negotiating with an international company that wants to enter Israel and set up a R&D and office center in Rehovot.
Africa-Israel Properties Ltd. (TASE: AFPR) will soon expand its Kiryat Weizmann Science Park adjacent to the Weizmann Institute of Science in Rehovot. The company is in advanced negotiations with an international company that wants to enter Israel and set up a R&D and office center in Rehovot.
Africa-Israel Properties is offering to build an 8,000-sq.m. office building in Kiryat Weizmann. The company declined to disclose details about the deal, but said it would build a customized building with complex electronic systems, and that rent would be higher than usual for the area. The lease will be for 15 years.
Africa-Israel Properties has recently leased thousands of sq.m. in Kiryat Weizmann at an average rent of $12 per sq.m. per month plus maintenance fees. The 100,000-sq.m. science park is fully occupied.
Published by Globes [online], Israel business news - www.globes.co.il - on August 6, 2006
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