Mathew Bronfman's Iris Hagilboa Construction and Development Ltd. won the new tender for the 98,000-square meter Me'uyan Soreq lot in Rishon LeZion, with a bid of NIS 132 million.
The win was not all that surprising, considering it was the only bid placed on the lot. The Bronfman Fisher Investments Ltd. subsidiary's bid was equal to the minimum bid.
In November, the Israel Land Administration (ILA) published a new tender for the 98,000-square meter Me'uyan Soreq lot, with a minimum bid of NIS 132 million, plus a requirement to pay an additional NIS 293.6 million as reimbursement to Iris Hagilboa for construction costs already incurred on the site.
Bronfman Fisher Investments Ltd. owns the IKEA Israel franchise. The lot is slated for a new IKEA store.
Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009