Tel Aviv Municipality today reissued the tender for the Tel Aviv wholesale market lot. The tender includes rights for the construction of 1,800 apartments in nine towers. The original tender was frozen in January due to the global economic crisis.
The difference between this new tender and the first tender is that it will now be possible to bid for parts of the site, such as the Carlebach Road and Hahashmonaim Road junction, where there are rights to build 800 apartments.
The tender was sent yesterday to 30 Israeli groups including Shikun u'Binui Holdings Ltd. (Housing and Construction) (TASE: HUCN), IDB Development Corp. (TASE:IDBD), Ashtrom Projects Ltd. (TASE:ASPJ) and others. The companies have until September 23 to indicate if they are interested and want additional details.
Following the success of the government's tender for the South Kirya earlier this week, where 324 apartments are slated to be built for NIS 450 million, the el Aviv Municipality and other owners including Tnuva rushed out the new tender.
Published by Globes [online], Israel business news - www.globes-online.com - on September 17, 2009
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