TalB

Gindi sells 90 units in recently bought project
Gindi sells 90 units in recently bought project

Gindi Holdings estimates the total sale proceeds from the entire South Kirya project project at NIS 1.5 billion.

Ariel Rosenberg24 Sep 09 17:10

Gindi Holdings Initiatives 2009 Ltd. today announced that it sold 90 apartments in the South Kirya project in Tel Aviv for NIS 245 million altogether within 24 hours of opening pre-sales. The company won the Israel Land Administration (ILA) tender for the tender for the three South Kirya high-rises with a bid of NIS 436.6 million earlier this month.

Gindi Holdings said that four members of a buyers group bought four penthouses in the central building for NIS 35.8 million altogether. The 320-square meter penthouses on the 28th and 29th floors were sold for more than NIS 8.8 million each.

Gindi Holdings estimates the total sale proceeds from the entire South Kirya project at NIS 1.5 billion. The company will build the project's three high-rises, which will include 318 apartments (106 per building), 10,000 square meters of office space, and 2,800 square meters of commercial space.

The company also announced that it plans to bid in the Tel Aviv Municipality tender for the wholesale market site.

Published by Globes [online], Israel business news - Globes [online] - Israel business news - Home Page - on September 24, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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TalB

BSR gains option to buy luxury Tel Aviv lot
BSR gains option to buy luxury Tel Aviv lot

Habas gave BSR Israel an option to a lot in Park Hazemeret zoned for a luxury high-rise.

Michal Yoshai29 Sep 09 13:58

Habas HZ Investments Ltd. (TASE: HABS) has given BSR Engineering and Development Ltd. (TASE:BSRE) unit BSR Israel Real Estate Ltd. an option to buy one of two lots owned by Habas in Park Hazemeret in north Tel Aviv for NIS 127 million plus VAT. The option is valid through December 13.

BSR Israel can exercise the option directly, or through a buyers group that it organizes. If the company exercises the option, it will pay 70% of the amount immediately, and the balance within 60 days, linked to the Consumer Price Index (CPI).

Habas will report a pretax capital gain of NIS 30 million if BSR exercises the option.

The lot is zoned for a luxury high-rise with 122 apartments.

Habas's share rose 1.3% by early afternoon to NIS 8.10. BSR Engineering's share was unchanged, while BSR Projects Ltd. (TASE: BSRP), the direct parent of BSR Israel, fell 1.3% to NIS 0.69.

Published by Globes [online], Israel business news - Globes [online] - Israel business news - Home Page - on September 29, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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I have respected your views, so I expect you to do the same for me.