The new Elad Israel Residence purchase of 50% of the rights to the land in an area of ​​about 13,000 square meters in Haifa

The new Elad Israel Residence reported the purchase of 50% of the rights to the land in an area of ​​about 13,000 square meters on the sought-after Yaffa Nof Street in Haifa from a company owned by businessman Gaz Zeevi. trade.
In Phase A, 79 housing units will be built in two buildings with an investment of approximately NIS 120 million
In the words of Ronen Jaffa, CEO of the new Elad Israel Residence: "We are continuing to develop the company and are now expanding its operations to the city of Haifa, the northern capital and the most beautiful cities in Israel. "Thanks to the excellent location of the project and with the help of the knowledge and experience we have accumulated over the years, I believe that we will succeed in bringing a residential project to the city of Haifa to a standard that has never been seen before."
Phase A of the project is expected to receive a building permit over the next 12 months and will include the construction of 79 housing units in two buildings as well as basements, with a total investment of approximately NIS 120 million.
Phase B of the project will include the construction of an additional 137 housing units in two buildings.
The new Elad Israel Residence will pay Elite Apartments a consideration of NIS 50 million plus VAT, as well as a price adjustment mechanism included in the sharing agreement, according to which a supplement or refund of consideration will be determined.