Eli Lahav buys 3 floors in Ramat Gan City Tower

City Tower Ramat Gan Photo: Eyal Yitzhar
City Tower Ramat Gan Photo: Eyal Yitzhar

The floors will be operated as event halls by Hadar Hapodim.

Businessman and developer Eli Lahav is expanding into the event halls segment. Lahav LR Real Estate Ltd. (TASE: LAHAV), which he controls, today announced the completion of a NIS 39 million deal for the purchase of three floors in the Ramat Gan City Tower, located in the Ramat Gan Diamond Exchange area. Lahav LR bought the property together with a private company owned by Hagit and Eli Lahav, with each of the buyers owning 50%.

The purchased floors contain mainly event halls, to be used by catering company Hadar Hapodim, which will pay a monthly rent of NIS 230,000 for them. It was also announced that Lahav LR's management is taking action to obtain permits for other uses for the floors, which is likely to increase the value and return of the property.

"Globes" reported in July that the Jerusalem District Court had approved the sale, after approving a stay of proceedings in May for City AK Holdings and Hadar Barama, which operated the event halls. The court appointed a temporary receiver, with the companies' alleged debts amounting to NIS 40 million.

Lahav LR, controlled by Eli Lahav (53.4%) and Hillel Rozanski (24.3%), operates in income-producing real estate in Germany and solar energy in Israel, and is expanding its business in the German market.

Published by Globes [online], Israel Business News - www.globes-online.com - on October 19, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

City Tower Ramat Gan Photo: Eyal Yitzhar
City Tower Ramat Gan Photo: Eyal Yitzhar
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018