The Tel Aviv Local Planning and Building Commission has recommended to the Tel Aviv Regional Planning and Building Commission not to go ahead with a proposed mixed-use project for the 55-dunam (13.75-acre) Israel Military Industries Ltd. (IMI) Magen lot because the land and groundwater are severely contaminated. The lot is located at the intersection of Hashalom Road and Aliyat Hanoar Street on the border of Tel Aviv and Givatayim.
The IMI Magen factory that previously occupied the site manufactured light arms until 1996. The land is owned by the Israel Land Administration (ILA). An urban building plan (UBP) from 1999 approved the site for offices, residential high-rises, and public buildings with an aggregate space of 87,000 square meters. 848 apartments were slated to be building in 43-storey high-rises. The contamination was discovered after IMI vacated the premises.
Sunday, April 13, 2008
Azorim to build in prestige Houston neighborhood
Azorim Investment, Development and Construction (TASE: AZRM) has shifted its focus to the prestigious Memorial neighborhood in Houston, Texas, and is going green.
Eighteen months ago, the group sold for $57.5 million land it bought four months previously for $34 million, slated for the Galleria Mall project in Uptown Houston, planned to be a $550 million residential and commercial project. It is now about to construct a prestigious residential project comprising two towers, at an investment of $200 million, in Memorial, and to build in accordance with the standards of the US Green Building Council.
Eighteen months ago, the group sold for $57.5 million land it bought four months previously for $34 million, slated for the Galleria Mall project in Uptown Houston, planned to be a $550 million residential and commercial project. It is now about to construct a prestigious residential project comprising two towers, at an investment of $200 million, in Memorial, and to build in accordance with the standards of the US Green Building Council.
Delek Real Estate in talks to buy UK property co
The target company is one of five largest income-producing property owners in the UK.
Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) is in talks to acquire the controlling interest in one of the UK's five largest income-producing property companies. Sources at foreign investment banks said that Delek Real Estate subsidiaries plan to buy a substantial bloc of shares in the public company, which is traded on the London Stock Exchange at a market cap of NIS 4.2 billion and has NIS 8 billion in shareholders' equity. The company has an annual turnover of NIS 2.6 billion.
The target company's largest shareholder owns just 9% of it, facilitating the acquisition of control. Delek Real Estate is in talks with shareholders who own a quarter of the company altogether.
Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) is in talks to acquire the controlling interest in one of the UK's five largest income-producing property companies. Sources at foreign investment banks said that Delek Real Estate subsidiaries plan to buy a substantial bloc of shares in the public company, which is traded on the London Stock Exchange at a market cap of NIS 4.2 billion and has NIS 8 billion in shareholders' equity. The company has an annual turnover of NIS 2.6 billion.
The target company's largest shareholder owns just 9% of it, facilitating the acquisition of control. Delek Real Estate is in talks with shareholders who own a quarter of the company altogether.
Azrieli developing outlet mall in Or Yehuda
Sources inform ''Globes'' that Azrieli Group unit Azrieli Malls Ltd. is building an outlet mall in Or Yehuda, which will be the first in the area for leading brands. The 6,000-square meter mall will have three floors of commercial space on the site of failed Canor Mall in the town center.
The company is investing $1 million in interior and exterior renovations and upgrades.
The outlet mall will bring to Or Yehuda fashion chains such as Fox-Weizel Ltd. (TASE: FOX), Renuar, Lee Cooper, Crazy Line, and other brands.
Copyrights of globes
The company is investing $1 million in interior and exterior renovations and upgrades.
The outlet mall will bring to Or Yehuda fashion chains such as Fox-Weizel Ltd. (TASE: FOX), Renuar, Lee Cooper, Crazy Line, and other brands.
Copyrights of globes
Alrov in talks to buy Crown Estate property
The company plans to convert a historic building on Regents Street in London into a hotel.
controlled by Alfred Akirov, has reached an understanding with The Crown Estate to purchase a property on Regent Street in London for ₤90 million. The 24,000-square meter property, known as the "Cafe Royal" is being rezoned for a 160-room luxury hotel, as well as commercial space.
The Crown Estate manages more than ₤7 billion of property owned by the British royal family. The properties include, according the its website, "cityscapes, ancient forests, farms, parkland, coastline, and communities" throughout the UK and functions "as employer, influencer, manager, guardian, facilitator and revenue creator".
controlled by Alfred Akirov, has reached an understanding with The Crown Estate to purchase a property on Regent Street in London for ₤90 million. The 24,000-square meter property, known as the "Cafe Royal" is being rezoned for a 160-room luxury hotel, as well as commercial space.
The Crown Estate manages more than ₤7 billion of property owned by the British royal family. The properties include, according the its website, "cityscapes, ancient forests, farms, parkland, coastline, and communities" throughout the UK and functions "as employer, influencer, manager, guardian, facilitator and revenue creator".
Auctioning real estate in Israel
Auction houses around the world are usually associated with works of art and antiques. A system where the seller can get the best price in the market at that particular moment in time for his wares. With the advent of internet auctioning what one wants to sell through an auction arena, that is to the highest bidder, has widened considerably. The wares on sale now include every conceivable item, while the market place has become a global place. Credit cards facilitate payment and a global postal or courier system ensure that an Israeli buyer can acquire goods in a virtual auction arena such as in Hong Kong.
This trend has also started to capture the real estate market as more and more websites specialize in the sale of real estate. In recent times the system of auctioning real estate through the internet is gaining ground though slowly and with reason. Real estate sales conducted through an online auction is now also offered in Israel. David Levy a lawyer who specializes in real estate has launched a new website called, mizrachonline, in which homes are been auctioned to the highest bidder.
This trend has also started to capture the real estate market as more and more websites specialize in the sale of real estate. In recent times the system of auctioning real estate through the internet is gaining ground though slowly and with reason. Real estate sales conducted through an online auction is now also offered in Israel. David Levy a lawyer who specializes in real estate has launched a new website called, mizrachonline, in which homes are been auctioned to the highest bidder.
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