BST is also building a commercial center in south Netanya, in a NIS 62 million contract.
BST Enterprise and Construction is building a 35,000-sq.m. commercial center in Modi'in at an investment of NIS 56 million, one the largest income-producing projects in the new city. BST won a tender by the mall's developer, Ispro - The Israel Properties Rental Corp. Ltd. (TASE: IPRO). Construction will be completed in four months.
Ispro, a subsidiary of IDB Holding Corp. (TASE: IDBH) subsidiary Property and Building (TASE: PTBL), is investing NIS 110 million in the commercial center, half in construction, and half in the land (bought from the Israel Land Administration), planning, consultancy, financing, and other expenses.
BST is also building a 30,000-sq.m. commercial center in south Netanya for Yakhin Hakal, under a NIS 62 million contract.
Published by Globes [online], Israel business news - www.globes.co.il - on May 1, 2005