ADO chairman Adi Keizman: We're now in the advanced stages of building a company for the long haul.
ADO Europe Ltd. (TASE: ADO), controlled by Adi Keizman, today acquired control of Wardinon Real Estate Ltd. (TASE:WDRE) at a company value of NIS 88 million. In the first stage, ADO bought 60% of Wardinon Real Estate for NIS 52.6 million. The Wardinon family will continue to own the rest of the company and Dan Wardinon will stay on as CEO.
ADO bought nearly 77,000 shares at NIS 691.61 per share from two private companies owned by members of the Wardinon family. Wardinon Real Estate rose 2.3% by midday to NIS 506. ADO rose 0.1% to NIS 1.50.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
Wednesday, March 5, 2008
One in ten Tel Aviv luxury apartment buyers under 30
Nearly 90% are bought by married couples
"Globes" has obtained a copy of the first comprehensive survey of luxury apartment buyers in Tel Aviv. An analysis of the figures shows that the most common buyer is a married couple in their 40s, free professionals, who reside in Tel Aviv.
The survey was conducted by Ocif Investments and Development Ltd. (TASE: OCIF) and Aviv Co., which are jointly building a number of luxury projects in the city. They include Aviv Bazameret, Migdal Moshe Aviv, and Aviv Bagimmel. The survey included 398 buyers of apartments in these projects, with the aim of compiling a representative profile of the buyers.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
"Globes" has obtained a copy of the first comprehensive survey of luxury apartment buyers in Tel Aviv. An analysis of the figures shows that the most common buyer is a married couple in their 40s, free professionals, who reside in Tel Aviv.
The survey was conducted by Ocif Investments and Development Ltd. (TASE: OCIF) and Aviv Co., which are jointly building a number of luxury projects in the city. They include Aviv Bazameret, Migdal Moshe Aviv, and Aviv Bagimmel. The survey included 398 buyers of apartments in these projects, with the aim of compiling a representative profile of the buyers.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
Perhaps it really is a bargain Africa Israel
Analysts look again at Africa-Israel - those who dare, that is.
In less than a year, Africa-Israel Investments (TASE: AFIL) has gone from the status of the new "people's share" to being the outcast of the Tel Aviv 25 list. Since the peak registered last May, the share had fallen 60% before yesterday's upward correction, leaving many investors disappointed.
But if you ask controlling shareholder Lev Leviev, Africa-Israel is actually a very interesting stock. "Africa-Israel is the biggest bargain on the market," Leviev said in warm defense of the stock at the International Rough Diamonds Conference that took place on Tuesday.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
In less than a year, Africa-Israel Investments (TASE: AFIL) has gone from the status of the new "people's share" to being the outcast of the Tel Aviv 25 list. Since the peak registered last May, the share had fallen 60% before yesterday's upward correction, leaving many investors disappointed.
But if you ask controlling shareholder Lev Leviev, Africa-Israel is actually a very interesting stock. "Africa-Israel is the biggest bargain on the market," Leviev said in warm defense of the stock at the International Rough Diamonds Conference that took place on Tuesday.
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
Saturday, March 1, 2008
Apartment sales rise in jerusalem
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
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
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.
Friday, February 22, 2008
Neighborhood renewal, or urban waste in haifa?
Driving along Independence Street in the lower city of Haifa, you see sign after sign trumpeting the future inauguration of this or that college in the future Port Campus.
In most cases, the buildings marked for development house nothing but pigeons and fleas. This neglect doesn't exactly scream of an inspiring project designed to change the face of Haifa and renew the dilapidated neighborhoods at the bottom of the mountain. But though investment may be slow, the Haifa municipality truly is devoting major resources to the future campus - at the expense of the Hadar Hacarmel neighborhood, which remains in the rear.
Haifa mayor Yona Yahav told TheMarker Real Estate in August 2005 that within a few years, the lower city would become a buzzing center, proudly housing faculties from the Technion and Haifa universities, alongside a selection of colleges.
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The campus is the city's solution for a tedious problem: the empty buildings in the area that once provided services to government institutions but whose offices moved to new edifices in Kiryat Hamemshala. Hassan Shukri Street is an example: once it housed many a government building, such as the local offices of the Interior Ministry, the court house, and city hall. But with the inauguration of the government complex, the offices emptied and now stand innocent of sapient life.
All rights reseved to haaretz
In most cases, the buildings marked for development house nothing but pigeons and fleas. This neglect doesn't exactly scream of an inspiring project designed to change the face of Haifa and renew the dilapidated neighborhoods at the bottom of the mountain. But though investment may be slow, the Haifa municipality truly is devoting major resources to the future campus - at the expense of the Hadar Hacarmel neighborhood, which remains in the rear.
Haifa mayor Yona Yahav told TheMarker Real Estate in August 2005 that within a few years, the lower city would become a buzzing center, proudly housing faculties from the Technion and Haifa universities, alongside a selection of colleges.
Advertisement
The campus is the city's solution for a tedious problem: the empty buildings in the area that once provided services to government institutions but whose offices moved to new edifices in Kiryat Hamemshala. Hassan Shukri Street is an example: once it housed many a government building, such as the local offices of the Interior Ministry, the court house, and city hall. But with the inauguration of the government complex, the offices emptied and now stand innocent of sapient life.
All rights reseved to haaretz
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