Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) subsidiary Danya Cebus Ltd. (TASE: DNYA) will build four luxury residential project in Tel Aviv and Jerusalem for an aggregate NIS 212 million.
The parcel 5 project in the big block in north Tel Aviv is for a group of private landowners. Danya Cebus will build 74 apartments in three 8-10-storey blocks, for a total space of 11,300 sq.m., for NIS 48.6 million.
The YMCA project in downtown Jerusalem is for Rassco Rural and Suburban Settlement Co. Ltd. Danya Cebus will build 62 apartments in four six-storey buildings for NIS 43.1 million for the first stage.
The Holyland project in Jerusalem is for Polar Investments Ltd. (TASE: PLR) and Kardan Real Estate Enterprise and Development Ltd. (TASE: KRDR). Danya Cebus will build 143 apartments in a 21,000-sq.m. 34-storey high-rise, plus a parking garage for NIS 93.5 million.
The Persys project in Har Hotzvim in Jerusalem is for Persys Building Ltd. Danya Cebus will build a 7,500-sq.m. eight-storey office building with underground parking, including finishing for NIS 26.5 million.
Published by Globes [online], Israel business news - www.globes.co.il - on October 17, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006