Despite the economic slowdown, it was reported today that Gindi Holdings had selected Danya Cebus Ltd. (TASE: DNYA) to construct the UpperHouse project in Tel Aviv.
The project is located on a 9.6-dunam (2.4-acre) lot adjacent to the Menora Mivtachim basketball arena in Yad Eliahu. The lot is bordered by Hashlosha Street on the north, Ayalon Highways on the West, Wingate Street on the south, and Yigal Allon Street on the east. The project, which contains two 30-floor towers, will have 65,000 square meters of above-ground space and 29,000 square meters of underground parking space for use by the project's tenants.
The permit for beginning work on the project was received in the past few days, with occupancy scheduled for five years from now. Proceeds for construction work on the towers, digging, construction of public space, and building the parking lot will be NIS 649,000, including VAT.
Gindi Holdings said that the company had sold 581 housing units in three months, of which 110 units were in option agreements with the Megureit company.
Projects built by Danya Cebus include the Tel Aviv light railway Red Line and the Carlebach railway station (over NIS 2.5 billion); the second section of the eastern railway track (NIS 600 million); the Meitar Interchange and Road 444 for the Cross Israel Highway Company (Road 6); Assuta Ashdod Hospital,; Timna Airport near Eilat; the new Ministry of Justice building in Jerusalem; the TLV project with over 1,000 housing units (over NIS 1.3 billion); and Buyer Fixed Price Plan projects with over 3,000 housing units in Rishon Lezion, Rosh HaAyin, Shoham, and the Galilee. The company also took part in construction projects by Gindi Holdings, such as a park in Or Yehuda, Gindi HaMoshava Gardens, and the Carmi Gat neighborhood.
Published by Globes, Israel business news - en.globes.co.il - on March 26, 2020
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