The sellers are Ruth Speiser and Shlomo Lehi. The French embassy plans to open a French cultural center on the site.
The French embassy in Israel and the French foreign ministry are negotiating to buy a 2,280-sq.m. building from Ruth Speiser and Shlomo Lehi. The building is located at 44 Hatabor St., near the Nahalat Binyamin pedestrian mall. The developers are asking for $9.2 million, at $4,000 per sq.m. The building is designated for a French cultural center, the establishment of which was announced by the French foreign minister during his visit to Israel in May 2003.
The plan is to construct the building on a 600-sq.m. plot in place of an old building, which will be demolished. The building rights are 60% per storey for five storeys, including a mezzanine floor and a basement.
The high price is due to the demand for high-quality finish, as stipulated by the French.
The building at 44 Hatabor is one of seven buildings in the Nahalat Binyamin project, owned by companies under the control of Speiser and Lehi.
Published by Globes [online] - www.globes.co.il - on December 7, 2003