The consortium of Shari Arison-controlled Shikun u'Binui Holdings Ltd. (TASE: SKBN), Shaul Elovitch-controlled Eurocom Global Real Estate Ltd. (TASE: EGRE), Aviv & Co., and Canada-Israel Development Corporation, controlled by Assaf Tuchmayer and Barak Rosen has won the tender for the Tel Aviv wholesale market, and will now enter into talks with the wholesale market owners.
The Tel Aviv-Jaffa Municipality owns 25% of the site, Tnuva Food Industries Ltd. owns 60%, Shraga Biran owns 6%, and wholesalers who used to operate there own the rest.
The two finalists in the tender submitted second bids. The loser was Moshe and Igal Gindi Ltd., and Gindi Investments 1 Ltd. (TASE: GIND.B1).
The bids reportedly were between NIS 800 million and NIS 1 billion. The deadline for the bids was pushed back from last Wednesday.
The 55-dunam (16-acre) site, between Carlebach Street, Hahashmonaim Street, and Menachem Begin Road, is zoned for 1,800 luxury apartments in four 40-storey towers and another five 12-storey buildings, around a large park. The development will also include 30,000 square meters of commercial space, 25,000 square meters of office space, and public buildings.
Last month, the consortium comprising Habas HZ Investments Ltd. (TASE: HABS), British-Israel Investments Ltd. (TASE: BRTS), Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL), Tidhar Ltd., and Kobi Rogovin withdrew from the tender. In November, IDB Holding Corp. Ltd. (TASE:IDBH) unit Property and Building Ltd. (TASE: PTBL) announced that it would not submit a bid in the tender.
Shikun u'Binui's share rose 3.2% in early trading today to NIS 7.99. EGRE's share was unchanged at NIS 12.40.
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010