Show me an example Israel Real Estate News: September 2006

Saturday, September 30, 2006

26 apartments sold in Jerusalem's Katamon district

Hassid Bros. Construction Co. Ltd. has completed sales of the first stage of its flagship Ganei Zion project in the Katamon neighborhood of Jerusalem. The company sold 26 apartments in three months for NIS 35 million, and has begun marketing the second stage of the project.

Thursday, September 28, 2006

220,000-sqm Herzliya industrial zone plan approved

The Tel Aviv Regional Planning and Building Commission has approved for deposit a 220,000-sq.m. special industrial zone in Herzliya, the Alonei Yam Plan. The project will be built on a 190-dunam (47.5-acre) site south of the Herzliya industrial zone, near Glilot junction.
The site is zoned for high-tech, hotels, limited commerce, and other uses, including a 60-dunam (15-acre) lot to be a depot for the Tel Aviv light railway.

Tuesday, September 26, 2006

Israel Land sells Herzliya hotel to Candan for NIS 41m

Over the years, the 50-year old 50-room hotel has been known as a place for assignations, renting rooms by the hour. It is not known what the new buyers intend to do with the property. They will reportedly seek to rezone the 4.5-dunam (1.125-acre) lot and increase its building rights, since the present two-storey hotel under-utilizes the lot.

Sunday, September 24, 2006

Shopping, thank God: Synagogue opens at IKEA

IKEA is continuing its assault on the religious sector in Israel. In the next few days, the company is planning to open a synagogue inside their furniture store in Netanya. The purpose: To attract more shoppers from the religious sector.

Amot to buy Lev Ashdod Mall for NIS 145m

The Lev Ashdod Mall generates NIS 13.7 million in rent a year for a return on investment of 9.44%.

Thursday, September 21, 2006

Rare Gilboa Iris prevents approval of new village

The struggle against the establishment of the Michal communal village became a symbol for the preservation of nature in Israel.

Wednesday, September 20, 2006

Direct Capital raises NIS 57m in bond, warrants issue

Demand for the offering was NIS 84 million.

Tuesday, September 19, 2006

Languishing in developers' limbo

Contractors find their major obstacles are not in the realm of market conditions or client characteristics but rather, in the time required to complete projects. They fear often unexpected external factors that may complicate, delay or undermine projects that appear promising on paper.

Sunday, September 17, 2006

PM Olmert Being Investigated For Yet Another Real Estate Scam

Channel 10 reported that PM Ehud Olmert is linked to yet another suspicious real estate deal,
According to the report, a home registered in his wife Aliza’s name was sold in 1996 to American business tycoon Uri Harkham of Los Angeles, for the amount of $650,000. – 30% more than it was sold for its two concurrent sales.

Friday, September 15, 2006

Contractors Association head calls for strike

Association of Contractors and Builders in Israel president Aharon Cohen has called on the members of his association to launch an immediate strike in protest at the increase in tax on foreign workers and the reduction in worker quotas.

Wednesday, September 13, 2006

Israel Real Estate online sign agreements with 68 key local Realtors agencies

Following the signing of the deal, an updated daily RSS/XML Feed will be available for all potential investors interested in the most updated and worthwhile real estate deals in Israel.The online feed http://www.is-realestate.com/feeds.xml will be available in Beta version from the 5th of September.

Tuesday, September 12, 2006

Adgar buys Segula property for $13.5m

Adgar Investment and Development has bought a 15-dunam (3.75-acre) lot near Segula junction, Petah Tikva, for $13.5 million. The lot is occupied by 6,600 sq.m. of commercial buildings leased to Shekem Electric Ltd., Aminach Furniture and Mattress Industries Ltd. and other stores.

Monday, September 11, 2006

US investor to buy Dori Engineering stake for $31m

Northern Group owner Alex Dembitzer will buy half of Acad Building & Investments’ 90% stake in the company.
Under the agreement with Dembitzer, Uri Dori will continue as president of Dori Engineering. Dori Engineering is currently building 3,500 apartments in Israel and has contractors orders worth NIS 650 million.

Sunday, September 10, 2006

Foreign investment in real estate totaled $831 million in January-July

Despite the war in the north, foreign investment in Israeli residential and income-producing real estate remains buoyant, totaling $105 million in July 2006, the Bank of Israel reported today.
Foreign investment in real estate totaled $831 million in January-July, representing an annualized all-time high of $1.4 billion. Foreign investment in real estate totaled $79 million in 2004 and $1.22 billion in 2005.

Friday, September 08, 2006

Diaspora Jews negotiate land deal in Jerusalem

Groups of Diaspora Jews have begun eyeing real estate projects in Jerusalem. The prospective buyers, mostly from the United States, contact developers on visits to Israel and continue negotiations from overseas.

Thursday, September 07, 2006

Housing starts drop 2.6% in first half

The number of construction starts of new housing was down 2.6 per cent in the first half of 2006, compared with the last six months of 2005, while the completion of new housing dropped 8.8% during the same period.

Wednesday, September 06, 2006

For a prestigous address, nothing beats Rothschild Boulevard

Rothschild Boulevard's unique economic and real estate dynamics dictates a different kind of business and price range than those of Ibn Gvirol, and as a result also a different market behavior for the commercial establishments located there.

Tuesday, September 05, 2006

Airport City signs MOU to build Kiryat Motorola

For several years, Motorola has been considering building an independent complex, and reviewed a number of proposals.
Motorola will occupy the new premises in two years, when construction is completed. It will pay $8 per sq.m. per month in shell condition under a ten-year contract with a five-year and two three-year options to extend. Motorola will finish the premises itself, including the interior design.

Monday, September 04, 2006

Habas sells apartments in Yoo Project for NIS 92m

Habas Investments sold NIS 92 million worth of apartments in its luxury Yoo project in Park Zameret, north Tel Aviv, in July-August. The latest sales amount to half of NIS 184 million in sales since January.
The Yoo towers comprise 297 apartments in a 37 and 41-storey high-rise.

Sunday, September 03, 2006

Azorim real estate in merger talks with Dankner Investments

The company value of Dankner Investments for the merger is reportedly $80-100 million.
A number of residential real estate companies have been negotiating mergers in recent months; the Azorim-Dankner Investments merger appear to have made the most progress.

Saturday, September 02, 2006

Minrav sells 11 apartments in luxury downtown Jerusalem project

The company plans to sell the 67 apartments in the complex at $5,000 per sq.m. A three-room apartment in the complex will cost $400,000. The company said it has already sold 11 apartments to US Jews for NIS 26 million altogether.

Friday, September 01, 2006

The first real estate investment trust (REIT) to be listed on the Tasa.

The Tel Aviv Stock Exchange (TASE) board of directors has approved REIT 1, owned by Excellence Investments Ltd. for trading. This will be the first real estate investment trust to be listed on the TASE.
Real estate industry sources believe that the flotation of REIT 1 will be first of several public REIT funds on the TASE.