The land in the city center has been held by five generations of the family that bought it at the end of the 19th century.
Private land in Rishon Lezion city center has been bought by Nadlan Nadlan and Felix Cohen for NIS 45 million including VAT. The land covering 6,000 square meters, between Jabotinsky, Dubnov and Shahar Streets is zoned for 22 houses with gardens. The deal reflects a value of NIS 2.045 million for the land for each house.
The buyers are now seeking building permits and planning to start marketing the project. The companies expect construction to begin next year and to deliver the homes to customers 30 months after building commences.
The land has been in the possession of the previous owner's family for five generations since the 19th century.
Published by Globes [online], Israel business news - www.globes-online.com - on July 4, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Rishon Photo: PR