Over half the apartments in the entire project were sold by the end of June, even though only a quarter of the project had been completed.
Habas HZ Investments (1960) Ltd.’s (TASE:HABS) YOO project in Zameret Park in north Tel Aviv is moving forward quickly. Real estate industry source predict that construction will be completed toward the end of 2007.
The sources said Habas had sold apartments in the YOO project for over NIS 300 million. 80% of apartments in the first tower have been sold, and over half the apartments in the entire project were sold by the end of June, even though only a quarter of the project had been completed. These figures require reports on the extent of sales. Sales of apartments in the second tower are expected to begin in early 2006.
The YOO project is due to have 297 apartments in two round high-rises, one with 35 floors, and the other 39.
Published by Globes [online], Israel business news - www.globes.co.il - on September 4, 2005