The Marker, Adi Cohen, 26.02.2020

Africa Israel Residential and Neve Schuster won (Tuesday) a tender for the construction of 145 residential and commercial units on 7.7 dunam of land in the Ramat Hasharon strip.

TheMarker has learned that the building rights were acquired by the companies from Pardes Association Savings, which held a tender for the sale of its rights, for NIS 27.5 million. In return for the land, the Israeli Land Authority is paid NIS 144 million. Total transaction: NIS 168 million.

The Ramat Hasharon vacation strip is a plan approved in December 2016, located between the Neve Gan neighborhood in the south, Road 5 to the north, Kiryat Shaul cemetery and the green village to the east and Ayalon routes to the west. Under the plan, about 6,100 housing units and about 900 acres are being set up for a metropolitan park.

Oren Hood, Africa's Residential Director , said: "As part of the company's business development, we are constantly reviewing deals to expand our land backlog in demand areas. Winning the land at Sharon level is consistent with this policy and we are pleased to have joined Neve Schuster. "

Dalia Schuster, owner of Neve Schuster, said: "This is another collaboration between Neve Schuster and Africa Residential, following previous collaborations on Givatayim projects. In society. "