Paul Matzliach plans destroying the existing two-floor building in Arlozorov Street.
An old two-floor building in the heart of Ramat Gan has been bought for NIS 30 million by French Jewish businessman Paul Matzliach. In its place he plans building a new residential apartment block, sources inform "Globes."
The building at 11 Arlozorov Street in Ramat Gan includes 959 square meters of built space with a commercial floor at street level including six parking places, six apartments on the first floor, and three underground parking spaces. The lot on which the building stands covers 1,272 square meters and has been purchased from two owners the Yad Sarah disabled equipment organization (22%) and Lone Star Developers Ltd. (78%). The property was built in the 1940s.
The buyer Paul Matzliach owns the French company CIMES and recently immigrated to Israel. He plans building 75 apartments in a new building and the request for a permit has been submitted to the Ramat Gan Municipality and if all goes to plan the existing building will be demolished before the end of 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013