Issta won a tender for land in Ramat Gan – the capital market

Issta won the tender after sticking to its bid for the minimum price per square meter set by RMI – NIS 14,000, and also bidding about NIS 65 million as an addition component for the land. The complex consists of three plots with a total area of ​​about 17,000 square meters, and the estimated construction period from the date of delivery of the land is estimated at about two years. Issta will finance the cost of purchase and construction with its own sources and bank financing whose scope and conditions have not yet been determined.

Sela Issta is owned by Issta Properties, a subsidiary (50%) of Issta, and by Sela Construction and Investments (50%) of the Amnon Mesilot Group. At the end of September, the company won a tender to lease 4 plots in the Yoav industrial zone together with partners totaling approx. NIS 289 million Issta will hold a 70% share of three areas designated for storage, along with a third of a plot designated for industry and storage, along with Orian and another partner.

In the shadow of the corona crisis that led to the closure of the sky for a long time, and after measures that included reducing salaries and sending workers to the IDF, Ista closed the first nine months of 2020 with a profit of NIS 30 million (after tax) – a decrease of 60% compared to NIS 70 million in the corresponding period The leisure and business tourism sectors incurred losses of NIS 25 million and NIS 5 million, respectively (after tax), compared with a profit of NIS 10 million and NIS 73,000 (after tax) in the corresponding period. .