josh007

Habas Group to break record in Israeli real estate prices with new luxury apartment tower at $100 million investment

Ofer Petersburg Published: 05.28.07, 09:29 / Israel Money




Herzl Habas, CEO of the Habas Group, aims to break real estate price records in Tel Aviv and will be marketing $20 million penthouses in a new luxury tower to be constructed on Rothschild Blvd.



The most expensive apartment to be sold in Israel to date went to billionaire Shari Arison for the price of $13 million some six months ago.


Habas first presented the project, Rothschild 1, in a press conference on Sunday, and according to Yedioth Ahronoth newspaper, the waiting list for one of these prestigious housing units is long.


The 32-story tower is being built on a half-acre lot at a total investment of $100 million.


The construction of the building will be complete by the year 2010.


In the meantime, apartments are being sold by word of mouth, and according to Habas, most of the customers are Israeli.


The company reported that by the end of March, contracts were signed in the total amount of $155 million. Since then, more deals totaling dozens of millions have been made.

Livni

I wonder who has that money to throw on a penthouse, the record was broken this year with 13 million by arison in G-tower, so thats a big jump, maybe too big,

"the waiting list for one of these prestigious housing units is long." - so why do they need so much PR?

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josh007

Billioners and multimillioners obviously have that money to throw away. Just a week ago Tshuva sold a penthouse in the Plaza Hotel, New York, for 56 million, now that is crazy.