Prashkovsky Investments and Construction Ltd. (TASE:PRSK) has been awarded the tender for six acres of land in the Elef complex in West Rishon Lezion near the Moshe Dayan railway station, and alongside the Ayalon Highway (Road 20), sources inform "Globes."
The company bid NIS 166 million, well above the minimum bid of NIS 86 million, and will have rights to build 112,000 square meters on land zoned for commercial space, hotels and public buildings. Prashkovsky's bid beat Canada Israel, which bid NIS 96 million.
When completed the entire Elef area will have 5,500 apartments and 1.7 million square meters of office space.
The tender won by Prashkovsky gives them rights to build at least 150 hotel rooms, and 8,000 square meters of commercial space as well as 5,000 square meters of public buildings for the municipality. By preparing a new outline plan, Prashovsky could build small affordable apartments for young couples and long-term rental, as part of the municipality's plans to bring more young people into the area.
Published by Globes, Israel business news - en.globes.co.il - on September 1, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020