Africa-Israel, B. Yair, Ahim Hasid, Yahalomit Peretz, and a buyers group will develop the project.
A consortium of four companies will build 800 apartments near the Pillbox in Jerusalem's southern neighborhood of Talpiot. Africa-Israel Investments Ltd. (TASE:AFIL), B.Yair Building Corporation 1988 Ltd. (TASE:BYAR), Ahim Hasid Building Company Ltd., and Yahalomit Peretz Building and Development Ltd., together with a buyers group, will develop the project.
Most of the apartments will be in 10-12 storey buildings. The project will include public and commercial space, kindergartens, a school, synagogue, and park. The 90-dunam (22.5-acre) lot was once used by Kibbutz Ramat Rachel for farming and reverted to the Israel Land Authority as part of a land betterment agreement.
Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2011
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