The company is selling 200 lots for high-end self-build projects.
Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) has begun marketing 200 lots for high-end self-build in Savion. The lots range in size from 1,000 square meters to 1,500 square meters, with smaller lots going for $749,000 and larger ones for $1.2 million.
Africa-Israel bought the land back in the 1950s. It has invested NIS 100 million in earthworks, development, and infrastructures for the new neighborhood. Africa-Israel chairman Lev Leviev bought lots in with an aggregate area of 23 dunam (5.75 acres) for NIS 60.8 million a parties at interest deal. Lev Leviev will live on one lot and his children bought eight lots.
Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2007
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