The company will demolish the current buildings and build its new headquarters on the site for NIS 285 million.
Menorah Mivtachim Holdings Ltd. (TASE: MORA) has bought two lots in the Ramat Gan Diamond Exchange from the landowners and Ramat Gan Municipality for NIS 136 million. The insurance company plans to demolish the buildings on the lot and build an office building that will serve as its new headquarters for NIS 285 million.
The first lot has 30,000 square meters in building rights for office and commercial use. The second lot has building rights for 1,600 square meters in above ground space and 1,029 square meters in service space.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2011
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