Adi Cohen, themarker.com

YH Demri Development & Construction Ltd. (9,171 +2.16%) On Tuesday, the Securities and Exchange Commission reported on its joint win with the Peretz Diamond Company in a bid to purchase a 16-acre lot in southern Tel Aviv - for NIS 355 million (before VAT). The Mythical Artist Club 17.

According to the Tel Aviv-Jaffa Municipality's outline plan (cell 5000), 80% of the plot is for residential purposes and 20% for employment. The area of ​​employment is expected to be at least 20,000 square meters - and constitute a new center of employment in southern Tel Aviv.

The complex will be built on a total area of ​​about 9.5 dunams, with the rest of the land in the lot expropriated by the Tel Aviv-Jaffa Municipality for public purposes. In the coming months, upon obtaining court approval to complete the sale, the companies will advance detailed planning - from which it will be possible to issue building permits.

The lot, where mostly low-rise industrial buildings built in the 1960s and 1970s, is owned by 30 privately owned owners. According to the report by YH Demri to the stock exchange, for some of the real estate, combination agreements were signed or signed with some of the rights holders.