Dori wins NIS 230m tender to build Tel Aviv high-rise

ZMH Hammerman's White City Residence in Neve Tzedek will have 30 floors.

Uri Dori Engineering Works Corp. (TASE: DORI) has won a NIS 230 million tender to be the chief contractor for the White City Residence luxury high-rise to be built in the Neve Tzedek neighborhood in south Tel Aviv. ZMH Hammerman Ltd. is building the NIS 600 million 30-storey project with 168 apartments and an adjacent five-story apartment and lofts complex.

ZMH now predicts that far fewer apartments will be built than originally planned because of heavy demand for larger, more spacious apartments in the project. The starting price for the apartments on the lower floors is $10,000 per square meter. The project includes a lobby with lounge, spa, fitness room, and an outdoor swimming pool.

Published by Globes [online], Israel business news - - on May 25, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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