Both real estate developers and institutional investors are considering bidding in the new tender for the Tel Aviv wholesale market lot. Possible bidders include Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) is considering bidding for the lot's commercial space. Real estate sources said that Habas HZ Investments Ltd. (TASE: HABS) and British-Israel Investments Ltd. (TASE: BRTS) may also submit bids.
The sources said that Habas want to bid for the whole lot. The sources added that if the Tel Aviv Municipality publishes a single tender for the whole lot, Tidhar Construction Ltd. would probably join Migdal in a bid.
The 55-dunam (13.75-acre) wholesale market lot in the triangle between Carlebach Street, Hahashmonaim Street, and Menachem Begin Road, is zoned for 320,000 square meters of above-ground space and more than 238,000 of underground space, including parking for 5,000 cars. The project will include a 14-dunam (3.5-acre) park, as well as 15,500 square meters of cultural, sports, and educational facilities, 27,500 square meters in residential high-rises, and 33,000 square meters of commercial space.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009