The buyers can only reside in the apartments for six months, and they will be hotel suites for the rest of the year.
Foreign residents bought three apartments in the Ritz Carlton hotel and residential project at the Herzliya Marina for NIS 19.8 million, even though they will use in them for only six months of the year. The project is being built by Tidhar Ltd. and Adis Investments Ltd.
A Swiss businessman bought a 141-square meter apartment with a 15-square meter balcony on the project's ninth floor for NIS 8.2 million, at a record price of NIS 58,000 per square meter. A Swiss family bought a 138-square meter duplex with a 40-square meter balcony on the project's ninth and tenth floor for NIS 7.8 million, at NIS 56,500 per square meter. An American Jewish doctor bought an 85-square meter apartment with a 10-square meter balcony on the seventh floor for NIS 3.8 million, at NIS 44,700 per square meter. Under the sale terms, the buyers may reside in the apartments for six months and apartments will be used as hotel suites for rest of the year.
The Herzliya Ritz Carlton is due to open in mid-2013. The 12-storey hotel will have 15 ballrooms on the lower six floors and 82 recreation apartments on the upper six floors.
Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2012
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