Hassid Bros. Construction Co. Ltd. has completed sales of the first stage of its flagship Ganei Zion project in the Katamon neighborhood of Jerusalem. The company sold 26 apartments in three months for NIS 35 million, and has begun marketing the second stage of the project.
Hassid Bros. Construction VP Sharon Hassid said, “Downtown Jerusalem is currently one of the best locations for investment. Real estate prices in the city have surged in the past two years, and are still rising. The project is located in Katamon, in the heart of the city, in an area with almost no new construction, so demand is heavy. The project was an unprecedented success even before we began marketing.”
The Ganei Zion project will have 200 housing units in a high-rise with a view of the city, built on a ten-dunam (2.5-acre) lot, which will include a four-dunam (one-acre) private park.
Hassid Bros. said a three-room apartment in the project cost $285,000, a four-room apartment $350,000, and a five-room garden apartment $580,000.
Published by Globes [online], Israel business news - www.globes.co.il - on September 25, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006