Industrial Building buys half of 2 properties for NIS 23m

Fishman Holdings subsidiary Industrial Buildings Corp. (TASE: IBLD) has bought half of two properties of the Kanot industrial park, near Gedera, from its partner in the project, Azorim Properties Ltd. subsidiary Clal Real Estate Investments Ltd. for NIS 23 million. The buildings cover 33,000 sq.m.

Rate cut to help many mortgage holders

Although mortgage rates are expected to fall with the Bank of Israel's likely interest rate cut this evening creating more lucrative conditions for old and new mortgage holders, a big wave of new mortgages wasn't anticipated.

Jerusalem risks heart failure - The Safdie Plan will ensure the city's continuing decline

Last week, the National Board of Planning and Construction council deferred its decision on the Jerusalem sprawl plan towards Tel Aviv. This planned is called the Safdie Plan, after the architect Moshe Safdie, who proposes building 20,000 housing units and buildings for accompanying services in the Jerusalem Hills west of the capital and quite some distance from it

Baran buys half of Azorei Dagan project for NIS 52.5m

Sources inform that Baran Group subsidiary Nes-Pan Ltd. has bought REIT Asset Management (Israel) Ltd.’s 50% stake in Azorei Dagan office complex in Beit Dagan for NIS 52.5 million. Nes-Pan now fully owns the rights to the 24,000-sq.m. office and commercial project under an agreement signed with the Israel Land Administration. Two of the three buildings have already been built and are leased.

Tips for successful property buying in israel

The real estate market for foreign residents is hotter than ever. Despite the summer's war, international clients are arriving in Israel during the holidays both for the purpose of visiting relatives and friends and to purchase an asset in the Holy Land.

Amot leases 1,200 sqm in Har Hotzvim in Jerusalem

Amot Har Hotzvim building in the Har Hotzvim industrial zone in Jerusalem. The new tenants are Yoram Gadish Infrastucture & Building Ltd., solar energy developer Luz II Ltd., and Regina travel agency, who will pay $11 per sq.m. per month, plus $3.50 per sq.m. in management fees.
The building’s existing tenants include IBM Israel Ltd., EMS Israel Ltd., Silicon Design Systems (SDS) Inc. (which has ceased operations), accountants and attorneys.

Merrill Lynch recommends domestically oriented Israeli stocks and Israeli real estate.

Merrill Lynch sees the Israeli economy as a safe haven for investors in emerging markets until the end of 2006. The US investment house expects volatility in emerging markets in this period, volatility which it believes Israel will succeed in avoiding.

Euro Sat Investments buys Arlozorov House for $2.8m

Euro Sat Investments, controlled by diamond merchant Avraham Namdar continues to acquire real estate in Tel Aviv and to expand its control over the old Tel Aviv Cinema area. The company announced that it had contracted with a foreign company, controlled by Yoram Globus, for the acquisition of the Arlozorov House (known also as the Ohel Theatre) for $2.8 million in cash.

Low dollar shakes up real estate market

The recent plunge in the dollar, which has brought the shekel to a five-year high against the US currency, has increased pressure for a drastic change which would move the local real estate market from one that has been historically dollar-denominated to one delineated by the shekel.

Survey of prices in central Israel from 1986-2006.

Vacant lots are among the most promising real estate investments in Israel, according to a survey of prices in central Israel from 1986-2006, The survey reveals that, during that 20-year period, prices rose by a real rate of 3-4 times the original, on average, and that the price of ultra-prestigious land lots rose by thousands of percentage points.

Gaydamak buys Zim lot in Tel Aviv from Mizrahi Bank with a $26 million offer.

Arcadi Gaydamak is entering Israel’s real estate market. On Friday, he bought the Zim lot at Rothschild St. 22, on the corner of Nahalat Binyamin St., Tel Aviv, for $26 million from Mizrahi Tefahot Bank . He outbid seven parties, with a price $6 million above the assessor’s estimate. As part of the deal he also bought three 1,200-sq.m. buildings slated for preservation.

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. Yoram Schechter and Shlomo Eliahu own the luxury Jerusalem of Gold project on Akiva Street in the capital, and are currently in touch with several American Jews who are interested in a group purchase of apartments. Prices for the apartments range from $6,000 per square meter for regular apartments to $12,000 per square meter for penthouses.

Ashtrom, Meir Shamir to build 20,000-sqm 4th building in Hod Hasharon

chairman Meir Shamir are planning the construction of 20,000-sq.m. fourth building in the Hod Hasharon industrial zone. The developers have completed the marketing of the 20,000-sq.m. third building in the Hod Hasharon Towers project.
The developers have rented 4,000 sq.m. in the third building in two leases at $11-12 per sq.m. per month. These leases complete the occupancy of the building.

Location not determining factor for religious property buyers

Although Jerusalem is the preferred location for 25 percent of the religious population buying homes, more than half of the buyers say area is not the decisive criteria for their choice.