The deals involved 2000 sq.m. of space. The Malha Technology Park (GATI) is owned by Isras Investment (74%) and the Jerusalem Development Authority (26%).
Several high tech companies that concluded deals to rent 2,000 sq.m. in the Malha Technology Park (GATI) in Jerusalem have run into difficulties and are trying to call off the transactions. The companies are committed to paying $12-13 per sq.m. per month, index-linked, in most cases under long-term leases. GATI is owned by Isras Investment (74%) and Jerusalem Development Authority (26%). The owners of Isras say that there are 60,000 sq.m. of space in GATI, and claim that the cancellations are on a small scale, considering the state of the high tech sector. The company is going ahead with its plans to construct a 17,000 sq.m tower.
Published by Israel's Business Arena on May 13, 2001