Eran Azran, The marker, 23.01.2020

A member of the Ramot group in the city - owned by a group of tributaries of developers Itzik Baruch, Israel Levi Real Estate and Eliav Maimon - has reported that it has signed an option agreement to purchase an exemplary cinema complex in Raanana for NIS 165 million plus VAT.

Under the agreement, Ramot in the city will pay NIS 3 million for the option, which will be valid until January 2021 for the purchase of the complex, and approximately NIS 162 million for the purchase of land.

The existing 5.6 dunam (city building plan) on the land is intended for residential, commercial and office space with a total area of ​​21,000 sq.m. (above), and two 6-storey buildings with 156 housing units can be erected on it. , Above the commercial floor and offices and car parks.

Recently, the local planning and construction committee approved the demolition of the mythical complex, which used to be the city's cinema. Years ago, the land was sold to private developers and some two and a half years ago some of the buildings in the area were demolished and a parking lot was erected in their place.

Ramot in the city - which has issued bonds in the capital market - is currently setting up the Ramot Hasharon residential complex . 588 new housing units will be built in place of 168 new housing units.

In addition, the company won the tender of the Israel Post Company this year for the acquisition of rights in the postal complex on Haganah Street in Tel Avivfor NIS 155.2 million (excluding VAT).

Baruch, who owns a tributary group, said of the deal in Ra'anana: "This is a rare opportunity to purchase a significant land division in the city center, which enjoys high demand and low apartment supply. The project volume will allow to build a high-quality complex and will be a great alternative for those looking to purchase apartments downtown. , Ranging from NIS 28-26,000 per square meter.