Sales of new apartments in Jerusalem rose 5% in January
1,180 new private sector apartments were sold in January 2008, 9.1% more than in January 2007, but 0.7% fewer than in December, the Central Bureau of Statistics reported today. Sales included 1,040 apartments under construction and 140 apartments whose construction was completed in the past 15 months.
An average of 1,194 apartments were sold per month in August 2007-January 2008, 6.6% more than the monthly average of 1,120 apartment sold in February-July 2007.
Among the apartments sold in January, the average number of months a new apartment was on the market, since the start of construction, was 13 months. Half of the apartments sold in January were on the market for 11 months.
Apartment sales in Jerusalem were 5% higher in January than January 2006 and sales in the central region were up 46.2%. 11 homes were sold in Judea and Samaria in January, compared with 46 in January 2006.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
Saturday, March 1, 2008
Bonei Hatichon, Minrav to build Jerusalem apartments
The two companies expect hundreds of millions of shekels in proceeds.
Bonei Hatichon Civil Engineering and Infrastructures Ltd.
(TASE:BOTI) and Minrav Holdings Ltd. (TASE: MNRV) have separately won Israel Land Administration (ILA) tenders for lots in the East Talpiot neighborhood of Jerusalem zoned for hundreds of apartments. Bonei Hatichon also won a tender for a residential lot in Netanya.
Bonei Hatichon won four tenders for lots zoned for 300 apartments in East Talpiot for about NIS 153 million plus NIS 12.5 million in development costs. The company also bought a lot zoned for 99 houses in Netanya for NIS 21 million plus NIS 6.6 million in development costs. The company expects to spend NIS 515 million to develop the projects, not including VAT and financing costs, and anticipates NIS 650 million in proceeds.
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Bonei Hatichon Civil Engineering and Infrastructures Ltd.
(TASE:BOTI) and Minrav Holdings Ltd. (TASE: MNRV) have separately won Israel Land Administration (ILA) tenders for lots in the East Talpiot neighborhood of Jerusalem zoned for hundreds of apartments. Bonei Hatichon also won a tender for a residential lot in Netanya.
Bonei Hatichon won four tenders for lots zoned for 300 apartments in East Talpiot for about NIS 153 million plus NIS 12.5 million in development costs. The company also bought a lot zoned for 99 houses in Netanya for NIS 21 million plus NIS 6.6 million in development costs. The company expects to spend NIS 515 million to develop the projects, not including VAT and financing costs, and anticipates NIS 650 million in proceeds.
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American Colony israel real estate developer
Sources inform that israel real estate developer American Colony Ltd. is set to float its European activity on London’s Alternative Investment Market (AIM) at the ambitious value of €400 million. UK investment bank Collins Stewart will be the lead underwriter for the issue.
American Colony develops, builds, markets and manages residential property projects. It listed on the TASE last May, and currently has a market cap of just NIS 309 million. The company intends to float on AIM its wholly owned subsidiary Inter Colony Real Estate Development Ltd., which manages its property business in Hungary, Romania, and Cyprus. Inter Colony is building a total of 20,000 units, 3,000 of which are in the process of being sold.
American Colony develops, builds, markets and manages residential property projects. It listed on the TASE last May, and currently has a market cap of just NIS 309 million. The company intends to float on AIM its wholly owned subsidiary Inter Colony Real Estate Development Ltd., which manages its property business in Hungary, Romania, and Cyprus. Inter Colony is building a total of 20,000 units, 3,000 of which are in the process of being sold.
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