ZMH Hamerman buys "Large Lot" lot, zoned for 25 apartments, in 48% deal.
Euro-Israel (YS) Ltd., Dona Engineering and Construction Co. Ltd. and Uzan Brothers Construction Co. last week won Israel Land Administration (ILA) tenders for residential lots in the Buchman compound in Modi'in for an aggregate $13.3 million. The lots, with a total area of 52 dunam (13 acres), are zoned for 307 apartments.
Euro-Israel won a 26-dunam (6.5-acre) lot, zoned for 144 apartments, for $5.9 million. Dona Engineering won a 17.8-dunam (3.95-acre) lot, zoned for 100 apartments, for $4.83 million. Uzan Brothers won a 7.8-dunam (1.95-acre) lot, zoned for 63 apartments, for $2.6 million.
ZMH Hamerman has bought another lot in the so-called "large lot" in the Transyarkon area of Tel Aviv from private parties in a 48% deal. The lot is zoned for a ten-storey building with 25 apartments of varying sizes. The asking price for a five-room apartment will be $430,000.
Published by Globes [online] - www.globes.co.il - on November 28, 2004