Weser Reality Israel Ltd., owned by developer Dvir Weser, has submitted a plan for a luxury residential project in Safed to the Safed Local Planning and Development Commission. He plans to build eight 75-square meter three-room apartments and a penthouse on an 887-square meter lot.
The asking price for the apartments is NIS 680,000 and the asking price for the penthouse is NIS 1 million.
Weser Reality is due this week to buy another lot nearby, which is zoned for 20 apartments. The company plans to build a luxury project on this lot, too.
Weser said, "This is the first time in the entire region that someone is building a luxury project. A three-room apartment in Safed normally costs around NIS 400,000. We already have people interested. We're now marketing the project only to foreign residents or new immigrants because we want to set the tone for the building, because Safed has no taste. Many immigrants from the US and Europe come and want to live in Safed, but can't find a building with character."
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2010
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