Habas CEO Eyal Regev: We believe that there is great potential in Caesarea in general, and for this land in particular, partly because of its unique location.
Habas HZ Investments Ltd. (TASE: HABS) has bought 85% of Sea Golf Ltd., a private company that owns a 28-dunam (seven-acre) lot in Caesarea. The land, located between the Dan Caesarea Hotel and the Caesarea Golf Club, is zoned for 186 recreation apartments and commercial space.
Habas will exclusively manage Sea Golf and the planned construction project. It will also lend Sea Golf NIS 55 million. Sea Golf's current shareholders will continue to own the remaining 15% of the company.
Habas CEO Eyal Regev said, "We believe that there is great potential in Caesarea in general, and for this land in particular, partly because of its unique location."
Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2010
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