Africa-Israel Investments Ltd. (TASE:AFIL) contracting arm Danya Cebus Ltd. (TASE: DNYA) has signed a contract with Gindi Holdings Ltd. to be the chief contractor for the developer's One & Only project in Petah Tikva for NIS 312 million.
On Friday, Gindi Holdings sold 519 of the 523 apartments in the project at a fair in Tel Aviv. The company said that 6,500 people attended, all of whom were members of Hever (the IDF and security forces servicemen and pensioners NGO). The Hever members received discounts of 19-23% on the asking price of the apartments.
Gindi Holdings said that sales in the project have totaled NIS 755 million to date.
The One & Only project will have eight high-rises: four of 14 floors and four of 23 floors. Construction is due to be completed in 2013.
Danya Cebus' share price rose 6.9% by early afternoon to NIS 10, giving a market cap of NIS 266 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 5, 2010
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