The Israel Land Administration today published the results of the tenders for land zoned for the construction of 2,000 apartments in Beit Shemesh. The publication was delayed by the Supreme Court because of a petition for an injunction filed by Beit Shemesh councilmen who opposed turning the town into a haredi (ultra-orthodox) bastion.
Most of the winners of the tenders are contractors who focus on residential building for haredim in Jerusalem, Maaleh Adumim, Modiin, and Beit Shemesh, as well as haredi non-profit organizations. The winners paid more than NIS 120 million altogether for the tenders. They will also pay NIS 160 million in development costs.
The most expensive bid was NIS 16.3 million for a lot zoned for 106 apartments, won by Vaknin Amram & Sons Building Contractors Ltd. The company will pay NIS 10.5 million in development costs, for a total price per land per apartment of NIS 253,000.
Behanhel Elion won the tender for a lot zoned for 162 apartments with a bid of NIS 13.5 million, double the average bid of NIS 6.7 million for the lot. It will pay NIS 18.8 million in development costs, for a total price per land per apartment of NIS 199,300.
Contractor David Koenig Ltd. won the tender for a lot zoned for 125 apartments with a bid of NIS 13.2 million. It will pay NIS 17 million in development costs, for a total price per land per apartment of NIS 241,600.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2010
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