The new office building near the Central Bus Station will be ready in three years.
The Government Housing Administration at the Ministry of Finance has signed a NIS 388 million 20-year lease for offices in Jerusalem with Ofer Holdings Group and Carasso Real Estate Ltd. The government will pay NIS 60 per square meter per month for 27,000 square meters of office space in a complex that will be built near the Central Bus Station at the city's western entrance.
The 33,000-square meter building at the corner of Yermiyahu Street and Hatzvi Street will cost NIS 300 million, and is due to be completed in three years.
The process of finding contractors to build government offices was protracted and involved several failed tenders. The tenders exemptions committee subsequently approved negotiations with contractors who build the project. Following negotiations with Ofer Holdings, the Government Housing Administration made a statutory announcement ahead of the objections process. The agreement to build the project was signed when this process was completed.
The new building is aimed to meet the needs of various government agencies in Jerusalem and for agencies that will be moved to the capital under a government decision.
Published by Globes [online], Israel business news - www.globes-online.com - on May 5, 2009
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