Microsoft Israel Ltd. is moving to new, larger premises at the Matam High Tech Park in Haifa, signing a lease for 7,400 square meters on several floors, as well as 200 parking spaces, in a building under construction. The ten-year lease is with Matam's owners, IDB Holding Corp. Ltd. (TASE:IDBH) unit Bayside Land Corp. Ltd.(Gav Yam) (TASE: BYSD1) and Haifa Economic Corporation. The rent is estimated at NIS 500,000 a year. Rent for office space at Matam is NIS 50-75 a month.
Microsoft Israel already rents about 5,000 square meters of office space at Matam, and will move to the new premises when they are ready. The new eight-floor building will have 12,000 square meters of office space and 5,000 square meters of underground space. It is scheduled to be completed by the fourth quarter of 2014. PwC Israel Kesselman & Kesselman has also rented 1,500 square meters in the building.
Microsoft Israel also rents from Bayside a 13,000-square meter office building, which was specially built for it, in Herzliya.
Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2013
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