Strauss sells Givatayim lot for NIS 190m

The lot is zoned for a 52-storey tower.

Strauss Group Ltd. (TASE:STRS) has sold a lot in Givatayim, zoned for a 52-storey high rise, for NIS 190 million, to Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS), Tidhar Ltd., and the Sufrin Group Ltd. Strauss will report a net profit of NIS 110 million on the sale.

Clal Insurance has already bought 33,000 square meters on 20 floors of the planned building for NIS 300 million. 12 floors of the building are slated for residences and 30 floors for office space. The remaining floors will be used for commercial and service space. The building will have 68,000 square meters altogether.

Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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