A 78-square meter 1.5-room apartment with no balcony on the ninth floor of the 42-storey Meier on Rothschild tower was sold for NIS 3.55 million to a foreign resident, the project's developers Berggruen Residential Ltd. (TASE:BRGN.B1) and Hagag Group Real Estate Development Ltd. (TASE: HGG) announced today. The sale reflects a price of NIS 45,500 per square meter.
Berggruen Residential says that over 60% of the apartments in the building have been sold
Berggruen Residential CEO Yigal Zemach said, "Customers realize that the inventory is dwindling, and dialogue with buyers is shortening. We're now making rapid progress on building the 16th floor of the building's shell. Sales are moving apace, and are even ahead of schedule, and as construction progresses, we expect a further increase in demand for apartments."
Published by Globes [online], Israel business news - www.globes-online.com - on July 4, 2012
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