September 12, 2021

Amot pays NIS 1.52b for Tzrifin logistics center

Globes, Globes correspondent, 12.09.2021

The company that manages the pension funds of Jewish Agency employees announced last week that Amot Investments Ltd. (TASE:AMOT), controlled by Nathan Hetz, had won the auction of the logistics center at Tzrifin. The real estate company will pay NIS 1.518 billion for the center. The proceeds of the sale will be used for the benefit of the Jewish Agency pension funds and will secure their rights.

The Tzrifin logistics center occupies 274 dunams (68.5 acres) on the east side of Road 44 between Ramle and Beit Dagan, near the Assaf Harofe Hospital and Moshav Nir Zvi, close to highways 6,4, 1, and 20.

The sale of the land at Tzrifin was announced at the beginning of this month. Bids were required within just four days of the auction terms being published (last Sunday), and the entire purchase price is payable by mid-October. The pensions company explained the rush by the fact that the government will cease issuing designated bonds to pension funds in January, and that it needed the cash in order to buy these bonds before they cease to be available.

Published by Globes, Israel business news - en.globes.co.il - on September 12, 2021