Bar Refaeli has bought a 72-square meter three-room apartment with a 12-square meter balcony in the Midtown project on Menachem Begin Road in Tel Aviv for NIS 2.5 million for her 26-year old brother, Dor. The 50-storey Midtown Tower is under construction by Electra Ltd. (TASE: ELTR), Eurocom Real Estate Ltd., and Canada Israel Development Corporation.
Bar Refaeli reportedly secured a celebrities discount. Dor Refaeli will live one floor below singer Aviv Gefen, who bought an apartment for NIS 2.7 million.
A year ago, Bar Refaeli bought an apartment in the Blue project in north Tel Aviv, near the Cliff Beach and Mehadrin Hotel. Canada Israel is building the Blue project, which will comprise six high-rises.
The developers of the Midtown tower bought the 14-dunam (3.5-acre) lot at the corner of Menachem Begin Road and Shaul Hamelekh Street from Tnuva Food Industries Ltd. for NIS 530 million in 2012. The 130,000-square meter tower will be completed in four years. The developers said that they have sold 150 of the building's 300 apartments since they began marketing two months ago.
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2013
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