The company will pay NIS 324,000 per month for 102 months.
Sources inform ''Globes'' that Playtech Cyprus Ltd. (AIM:PTEC), controlled by Teddy Sagi, signed a lease two weeks ago to rent four floors in the Paz 2 Tower in Ramat Gan's Diamond Exchange. Playtech will pay an average of NIS 81 per square meter per month for 4,000 square meters, for a total of NIS 324,000 per month.
The lease from Mazal and Bracha (1970) Ltd. is for 102-month lease, with the first termination option after three years. Playtech has an option for a few months to rent another floor.
The 14,000-square meter Paz 2 Tower has 14 floors. It is located at the corner of Menachem Begin Road and Shoham Street. It is one of three buildings built in the 1990s. The 19-storey Paz 1 Tower has 17,000 square meters of office space and the five-storey Paz 3 Tower has 5,000 square meters.
Published by Globes [online], Israel business news - www.globes-online.com - on September 25, 2011
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