58 apartments will be built on the site for NIS 4 million each.
The Gurevich family, one of the owners of Menorah Mivtachim Holdings Ltd. (TASE: MORA) recently sold a lot near the seafront in Netanya for NIS 42 million. This sum includes development expenses but not VAT. The buyer was the Shlomo Berkovich company. The lot at 21 Dankner St. facing the seafront covers 1,800 square meters and has rights for 58 housing units.
The project planned for the site is called "To touch the sea" and will include two adjoining buildings and two 4-5 room apartments on each floor overlooking the sea. Each of the 140 square meter apartments is expected to sell for NIS 4 million or NIS 28-30,000 per square meter.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
Netanya seafront project