Property and Building Ltd. (TASE: PTBL) subsidiary Bayside Land Corp. Ltd.(Gav Yam) (TASE: BYSD1) is expanding its Matam Science Industry Center in Haifa. Bayside is building the 14,500-sq.m. Matam Tower 3 at an investment of NIS 50 million.
Matam Tower 3 is the third of four buildings planned for the industrial park. The first two buildings, with an aggregate space of 22,500 sq.m., are leased to Intel Israel Ltd., Ofer Brothers, Zim Integrated Shipping Services Ltd. and other companies.
Bayside managing director Hanan Nitzan said Matam Tower 3 would be leased at $12.50-14 per sq.m. per month, and it would be ready for occupancy by July 2007.
Matam currently has 210,000 sq.m. of built-up space leased to 50 high-tech companies on a 220-dunam (55-acre) site at the southern entrance to Haifa. Companies located in Matam have 8,000 employees. Bayside owns 50.1% of Matam and the Haifa municipal Haifa Economic Development Company owns the rest.
Published by Globes [online], Israel business news - www.globes.co.il - on August 6, 2006
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