IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Bayside Land Corp. Ltd.(Gav Yam) (TASE: BYSD1) has decided to expand its office complex in Herzliya Pituah at an investment of NIS 90 million, not including the cost of the land. The premises are due to be occupied in December 2007.
Bayside will construct the 9,500-sq.m. Building 5 and 5,500-sq.m. Building 6 in its office complex. When completed, Bayside’s office complex will cover 85,000 sq.m., including 40,000 sq.m. upper space. Tenants include the Israeli branches of Microsoft Corporation (Nasdaq:MSFT), Eli Lilly & Co. (NYSE:LLY), Pfizer Inc. (NYSE:PFE; LSE:PFZ), Paradigm Geophysical BV, Optibase Ltd. (Nasdaq: OBAS), lawyers and venture capital funds.
