Rothstein will build 420 apartments in Tel Aviv with an expected profit of about NIS 120 million – real estate

Construction Evacuation: Real Estate Company

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Expects a profit of about NIS 120 million in the project to build about 420 apartments on La Guardia Street in Tel Aviv. According to the company’s report, it expects to bring in about NIS 820 million and expenses of about NIS 700 million from the project.

The company and its subsidiary “People of the City” won the Ezra and Batzron centers, the evacuation of the 114 existing apartments and the construction of 420 new apartments in their place. This involves the construction of about 16 buildings with 7-15 floors, with a total area of ​​38,000 square meters for residential and 960 square meters for commerce.

The company recently reported that a construction evacuation project in Lod, for the construction of about 467 apartments and 2,000 square meters of commercial space in the city, was approved for deposit by the district committee and that the company completed the contracts with more than 80% of apartment owners in the project complex on Einstein Streets. And works to complete all the signatures.

Avishai Ben-Haim, CEO of Rothstein Real Estate: “The company continues to develop and promote urban renewal projects in areas of demand in Gush Dan, mainly through the city’s subsidiary, which focuses on urban renewal in the Tel Aviv area. We believe that due to the shortage of land in these areas, we will continue to deepen our activity in projects of this type, which meet the need for apartments in these areas. ”