The company has bought a lot in the city's downtown Mokotow borough.
Bonei Hatichon Civil Engineering and Infrastructures Ltd. (TASE:BOTI) has bought a 4,200-square meter lot in Warsaw's downtown Mokotow borough for €10.3 million. The lot is zoned for 27,000-square meter residential project. The company plans to build 260 apartments on the site at an investment of €37 million, and expects €50 million in proceeds from it.
Bonei Hatichon CEO Ami Peretz said, "The company sees significant real estate potential in Poland, in addition to other countries in Eastern Europe where we operate, such as Hungary and Romania."
Several Israeli developers are active in Warsaw, including Ramet Ltd., Adgar Investment and Development Ltd. (TASE: ADGR), Global Trade Centre Poland SA (WSE:GTC) (GTC Poland), Neocity Group Ltd. (TASE:NCT.B1), Plaza Centers NV (LSE:PLAZWSE:WLZ), and Ronson Europe NV (WSE:RON).
Published by Globes [online], Israel business news - www.globes-online.com - on February 3, 2008
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