A foreign resident has bought two apartments in Danna Azrieli's Gal Yam seaside project in Herzliya Pituah for NIS 22 million. Her company, Candan Residences Ltd., is the project developer. The buyer will consolidate the two third-floor apartments to create a 300-square meter apartment with 95 square meters of balconies.
The buyer will enter the apartment in April 2015. The buyer is a businessman who spends most of his time abroad, but whose children are in Israel and he makes frequent visits.
The estimated cost of the Gav Yam project is NIS 400 million. It comprises two four-story buildings with 35 apartments, most of which have a sea view. Danna Azrieli, who serves as the vice chairman in her father, David Azrieli's company, Azrieli Group Ltd. (TASE: AZRG), will live in one of the project's apartments.
Published by Globes [online], Israel business news - www.globes-online.com - on June 25, 2013
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