Apartments in Henry Taic's project will cost NIS 55,000-70,000 per sq.m. and range up to 1,000-sq.m. in size.
Henry Taic plans to build a luxury hotel and residential seaside project adjacent to the Opera Tower for an estimated NIS 750 million, including the cost of the land. The project will be built on an eight-dunam (two-acre) lot, currently used as a parking lot, between Sir Herbert Samuel Street and Hayarkon Street.
Taic is a shareholder in the Tel Aviv Hilton. He is the son of the late David Taic, for whom Tel Aviv's David Intercontinental Hotel is named.
The David Promenade Residences will comprise two connected 25-storey high-rises with 60-70 apartments each. Each apartment will have a 12-square meter balcony with a sea view. The apartments will range in size from 100 square meters to 1,000- square meter penthouse duplexes. Prices will range from NIS 55,000 to NIS 70,000 per square meter.
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2010
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