Pangaea Real Estate Ltd. (PNGD) climbed the most in more than a week after the property developer and its partners agreed to buy land in Tel Aviv property to build a residential and commercial project.
The shares gained 6.6 percent, the most since June 6, to 0.835 shekel at the 4:30 p.m. close in Tel Aviv, giving the Herzliya, Israel-based company a market value of 116.7 million shekels ($34.1 million).
Pangaea and partners including Electra Real Estate Ltd. (ELCRE) agreed to pay 530 million shekels to Tnuva Food Industries Agricultural Co-Op in Israel Ltd. for the property. Electra rose less than 0.1 percent to 20.11 shekels.
Thursday, June 30, 2011
Sleepy Israeli town to construct replica of Italian neighborhood
Israel property Many thousands of kilometers to the west, Israel launched its own project in architectural replication this week: the Bella Lugano quarter in Yehud. Inspired by the the Italian-speaking section of this Swiss city, it is the brainchild of Mayor Yossi Ben David, who became well acquainted with Italy while working in his previous job in textiles.Israel real estate The old center of Yehud is built on the ruins of the Arab village of Yehudia and suffers from many of the syndromes that typically afflict downtown areas in Israel. It is outdated and neglected, and hard-pressed to compete with the successful mall that opened a few years ago in nearby Kiryat Savionim. All attempts to resuscitate it, including establishing a pedestrian mall, have failed.
As part of the renewal project that will encompass 200 dunams, the old downtown will be completely demolished except for the spire of a mosque from the old village of Yehudia and a tomb from the Mamluke period. Two apartment towers will be built and between them - the jewel in the crown - the Italian quarter with picturesque four- and five-story residential buildings. The ground floors will contain shops and feature ornamented colonnades and neoclassical columns. The building fronts will be painted in shades of orange, peach and lavender, and combine European motifs with Israeli sun porches.
As part of the renewal project that will encompass 200 dunams, the old downtown will be completely demolished except for the spire of a mosque from the old village of Yehudia and a tomb from the Mamluke period. Two apartment towers will be built and between them - the jewel in the crown - the Italian quarter with picturesque four- and five-story residential buildings. The ground floors will contain shops and feature ornamented colonnades and neoclassical columns. The building fronts will be painted in shades of orange, peach and lavender, and combine European motifs with Israeli sun porches.
Sunday, June 05, 2011
Israel's wealthiest man, who died Thursday aged 89, has been in the spotlight since the U.S. accused his company of docking ships in Iran
Ofer found himself in the spotlight two weeks ago after the U.S. State Department accused one of his shipping companies of doing business with Iran, thus violating sanctions. The Ofer Brothers Group has denied any wrongdoing.
Though Ofer's personal wealth is difficult to estimate, in 2011 Forbes put the figure at $10.3 billion, making him the 79th wealthiest person in the world and the wealthiest man in Israel. TheMarker estimated $4.85 billion.
Ofer was a businessman and shipping magnate, who had many dealings with the Israeli government. He had built up his shipping empire over the past 50 years, and used his profits to buy control of Bank Mizrahi-Tefahot and the Israel Corporation. He ran multiple venues, including the Dead Sea Works, Zim shipping company and oil refineries.
Ofer's main residence was in Monaco, but he also had a home in Tel Aviv's Akirov Towers and donated generously to Israeli institutions, particularly hospitals.
He is survived by his wife Aviva, his sons Eyal and Idan, eight grandchildren and one great-grandchild.
Though Ofer's personal wealth is difficult to estimate, in 2011 Forbes put the figure at $10.3 billion, making him the 79th wealthiest person in the world and the wealthiest man in Israel. TheMarker estimated $4.85 billion.
Ofer was a businessman and shipping magnate, who had many dealings with the Israeli government. He had built up his shipping empire over the past 50 years, and used his profits to buy control of Bank Mizrahi-Tefahot and the Israel Corporation. He ran multiple venues, including the Dead Sea Works, Zim shipping company and oil refineries.
Ofer's main residence was in Monaco, but he also had a home in Tel Aviv's Akirov Towers and donated generously to Israeli institutions, particularly hospitals.
He is survived by his wife Aviva, his sons Eyal and Idan, eight grandchildren and one great-grandchild.
Subscribe to:
Posts (Atom)