The company expects $30 million in proceeds from sales.
Dekel Aher Construction and Investment Ltd. will invest $25 million, not including land, in building 176 "Greek-style" houses and scores of bed and breakfast rooms in Kibbutz Maayan Baruch, in the Upper Galilee. The company expects $30 million in proceeds from sales.
Dekel Aher will initially build 88 units. Construction of the second stage will be based on sales.
The project is based on an agreement between Dekel Aher, Israel Land Administration (ILA) and Kibbutz Maayan Baruch, in accordance with an ILA Council decision for expanding kibbutzim (collective communities). Under the agreement, Kibbutz Maayan Baruch may sell the homebuyers various services.
Published by Globes [online] - www.globes.co.il - on October 17, 2004