Shikun u'Binui Real Estate CEO Tamir Dagan has appealed to Minister of Housing and Construction Ariel Atias to free land zoned for thousands of apartments. "Globes" obtained a copy of the letter. Shikun u'Binui Real Estate Ltd. is the Israeli residential development arm of Shari Arison-controlled Shikun u'Binui Holdings Ltd. (TASE: SKBN)
The letter sheds light on Shikun u'Binui's projects planned in Jerusalem and Tel Aviv suburbs of Kiryat Ono, Ramat Efal, and Ganei Yehuda, as well as the prolonged planning procedures, which take years.
Dagan wrote that Shikun u'Binui's 600 apartment-project in Givat Hamatos has been stuck for three years since the project's outline plan was deposited but which has not yet come into effect. In Jerusalem, the company is planning 250-300 apartments in three high-rises in Kiryat Hayovel on land bought in 1998. The application for rezoning the lot has not yet been approved.
Dagan also mentioned projects for 400 apartments in Ganei Yehuda, which have been in the planning stages for 12 years, 180 apartments in a vacate-and-build project on ILA-owned land in Kiryat Ono, and 1,600 apartments and commercial space in Ramat Efal on land whose jurisdiction is disputed between the Ramat Gan Municipality and the regional council.
Neither Shikun u'Binui or the Ministry of Housing have responded to the report.
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2010
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