The number of apartments in the project has been reduced from 250 to 216 in order to increase their size.
Elazar Levin 28 Nov 04 12:17


Contractor Doron Ofer will invest $40 million to build two 24-storey high-rises near the Denya neighborhood on the Carmel in Haifa. The number of apartments in the project has been reduced from 250 to 216 in order to increase their size. The investment does not include the $10 million paid for the 12-dunam (three acre) lot several months ago.
The apartments will be larger than usual. The asking price for four-room apartments is $200,000-230,000; for five-room apartments $230,000-280,000; for six-room apartments $350,000; and $500,000-650,000 for the two penthouses.

Ofer said he decided to build larger apartments after a survey found that many Haifa residents preferred large apartments.

Construction will begin on the first high-rise in January 2005, and will be completed by the end of 2006. Construction of the second high-rise will depend on sales of apartments in the first.

Published by Globes [online] - www.globes.co.il - on November 28, 2004