The real estate investment company of developer Mario Laznik will invest $40 million in the construction of a hotel in the southern Riviera, presently under construction on the southern coast of Ashdod. The four- star-standard hotel will consist of 220 rooms. The project will also include 360 holiday apartments.
In addition to 220 hotel rooms, the project will feature 360 holiday apartments that will be marketed by the lease-back method: and a large congress centre, in a total area of 3,500 sq.m., a health and medical services centre in an area of 5,000 sq.m.
Published by Israel's Business Arena February 5, 1998
Kaul: We Won’t Run Plants, Clal Concern Will Treat Them as In-Out Equity Fund
David Hayoun
While lecturing last night at the Haifa University on the Clal concern’s present and future strategy, Clal’s general manager Yitzhak Kaul revealed his intention of changing the concern’s policy in relation to the industrial group.
"Separate managerial attention will be paid to the industrial group, but we will not actually manage the plants, as we cannot manage dozens of plants. We will treat industry as a sort of equity fund. We will be in, and out, and in again. We will also upgrade part of it, although very little, on the whole".
Kaul also said: "We are putting the industry through an all-out reform. We are re-examining all industrial groups. We will withdraw from some groups, while, as regards others, we shall be looking where to carry out production. Although it is sad to have to close down plants, such as Kitan in Upper Nazareth or Gibor Sabrina, in certain cases, manufacture must be relocated to cheaper places.
"On the other hand, we will be going on to matters with relative advantages, such as computers and high-tech. If we fail to cultivate these fields, even our relative advantages are liable to shrink".
Concerning capital market activity, usually pursued through Ilanot Batucha, Kaul said "The concern will go into much more in-depth activity there, this will be a very central part of our operations".
Published by Israel's Business Arena February 5, 1998