A group of doctors has bought a 2.5-dunam (half-acre) lot at 18 Hosea Street, near the Tel Aviv Port, for NIS 70 million. The group is headed by Inbal Or, CEO of Or City Real Estate Ltd., who said that the lot was exceptionally rare because the Urban Building Plan (UBP) permitted construction only 150 meters from the shoreline. Sources inform ''Globes'' that buyers include local hospital managers.
The lot has building rights for 3,660 square meters above ground and 2,500 square meters underground. The eleven-storey building will include three floors of 350-square meter lofts with 5.5-meter ceilings. The 11th floor penthouse is intended to be Or's own residence. The project will include a sauna, Jacuzzi, wine cellar, and shops. The developers expect to obtain a building permit within a year and to occupy the premises in three years.
The project has been nicknamed matzitzim (peekers), after the legendary adjacent beach.
Or City earlier organized the group of IAF pilots that, in December 2007, bought a lot in Ramat Gan on which they plan to build a luxury high-rise for themselves.
Published by Globes [online], Israel business news - www.globes-online.com - on July 9, 2008
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