Neocity Group Ltd. (TASE:NCT) has won a tender to expand a hospital in the Czech city of Mlada Boleslav, located 50 kilometers northeast of Prague. The developer will build an internal medicine ward for a maximum of NIS 78.5 million (386 million Czech koruna).
Neocity will complete construction of the internal ward by October 2012, under the terms of the tender.
Earlier this week, Neocity announced that a wholly-owned Polish subsidiary reached a financing agreement with a Polish bank for the construction of a mixed-use project in Warsaw. The project will have 365 apartments and 1,117 square meters of commercial space. Construction will begin in the first half of 2011.
Neocity CEO Erez Golan said, "The current project in the Czech Republic is the opening shot for us in public project tenders. We intend to participate in more tenders of this kind."
Neocity's share price rose 3.5% by midday to NIS 0.48, giving a market cap of NIS 48 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011