Included in the deal are the Bet Lessin plot in Tel Aviv, which will be demolished in favor of a residential building, and a football field in Ra'anana.
The Histadur labor federation today concluded a deal for the sale of 12-15 plots in the country's central region to contractor Shimon Strod of Ra'anana. The proposal calls for ownership to be placed under a joint company, which will deal with changing the plots' designation to residential construction. Strod will have the option of purchasing the plots in a 35-50% deal. The list of plots includes the Bet Lessin area in Tel Aviv, a football field on Keren Hayesod Street in Ra'anana, the Workers Council plot on Yaffe Street in Ra'anana, and the football field on Pinkas Street in Kiryat Ono.
The Histadrut will receive a $32 million loan from Strod. The Strod board of directors will convene in the next few days to examine and approve the deal.
The deal is contingent on financial coverage of the loan by Bank Hapoalim or United Mizrahi Bank.
Published by Israel's Business Arena on 25 June, 2000