After a delay of 25 years following the bankruptcy of the original developer, the "Towers of Kings" project in Tiberias has sold its 252 holiday apartments.
The 252 units were sold for an average price of $190,000 each.
The Towers of Kings apartment hotel is located in northern Tiberias, on Lake Kinneret.
The 252 units include 47.5 square meter two room (1 bedroom) apartments, and 56.5 square meter three room (2 bedroom) apartments.
The building permit for 4 luxury penthouses, near the pool, was recently given, and building of the rooftop units is expected to be completed by November. Three of the units will be auctioned this week, with a minimum price of NIS 480,000.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2009
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