The dorms will be let for NIS 1,600 per student and up.
Arison Holdings Ltd. subsidiary Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) has signed NIS 400 million contract with Tel Aviv University to build new dormitories. Shikun u'Binui Real Estate Ltd. (formerly Shikun Ovdim) will carry out the project.
Shikun u'Binui will renovate the university's Einstein Compound and build the Broshim Compound. Altogether, 1,424 dormitory apartments with 2,300 beds will be built in eight eight-storey buildings. The project will have 1,050 studio apartments, 237 two-room apartments for two students, and 50 family apartments for junior faculty. A studio will be leased for NIS 1,600 per month and a two-room apartment for NIS 2,200.
Published by Globes [online], Israel business news - www.globes-online.com - on July 14, 2008
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