http://www.is-realestate.com
Real estate tycoon Donald J. Trump and Miami, Florida based Crescent Heights said Sunday they completed the purchase of the property earmarked for their planned "Trump Tower Israel" luxury apartment complex in Ramat Gan.
The buyers paid Strauss-Elite $44 million for the property and are planning to spend a further $256m. on construction of the tower, bringing the total investment in the project to $300m.
"I am confident that Israel is only heading in one direction, which is up," Trump said in a press release, adding that his edifice would bring the "level of sophistication and design that Israel deserves."
The site of the proposed tower is next to Migdal Aviv in Ramat Gan, and is one of two Israeli projects in which Trump is involved. In December plans were announced for Trump to construct a $500m. hotel complex in Netanya.
