source26
October 8th, 2005, 10:16 PM
Africa Israel and BST to build residential project in Kfar Saba. Estimated overall sales 46 m' $
Africa Israel CEO Pinchas Cohen, Director of the company's Residential Division Yoram Keren, and Badia and Subhi Tannous, CEOs and owners of BST Development and Construction Company Ltd., announced today that Africa Israel in partnership with BST will construct a residential project on the corner of Carmel Road and Tel Hai Street in Kfar Saba, to include 170 residential units. Private landowners were also signatories to the agreement. Financial backing will be provided by the project financing department of Bank Discount.
The Kfar Saba project will be constructed in two stages. The first stage will involve the construction of buildings with five to seven stories and the second stage will involve the construction of a tower of 17 stories. Residential units of three, four and five rooms are planned as well as rooftop apartments, penthouses and duplexes. All apartments will be built to the highest standards of construction that characterize Africa Israel’s Savyonim neighborhoods around the country.
This project deepens the cooperation between Africa Israel and BST. Last year, the companies bought two plots to construct 230 prestigious residential units in Ramat Gan, and are planning to build the Bishop's Palace project in Nazareth together. The partnership ratio is 50:50 for all joint projects the two companies undertake.
Yoram Keren, Director of Africa Israel's Residential Division, said that the project is located in a quiet, exclusive area in the center of the town. "I am certain that those who buy apartments will enjoy this quality project that Africa Israel, in partnership with BST, is planning to construct," Keren said. "I am sure that these apartments will benefit from Africa Israel's 70 years of experience that can be seen in the uncompromising professionalism and quality that characterize Africa Israel's Savyonim neighborhoods."
BST General Manager Mr. Subhi Tannous said, "We are happy to deepen our partnership with Africa Israel."
Africa Israel CEO Pinchas Cohen, Director of the company's Residential Division Yoram Keren, and Badia and Subhi Tannous, CEOs and owners of BST Development and Construction Company Ltd., announced today that Africa Israel in partnership with BST will construct a residential project on the corner of Carmel Road and Tel Hai Street in Kfar Saba, to include 170 residential units. Private landowners were also signatories to the agreement. Financial backing will be provided by the project financing department of Bank Discount.
The Kfar Saba project will be constructed in two stages. The first stage will involve the construction of buildings with five to seven stories and the second stage will involve the construction of a tower of 17 stories. Residential units of three, four and five rooms are planned as well as rooftop apartments, penthouses and duplexes. All apartments will be built to the highest standards of construction that characterize Africa Israel’s Savyonim neighborhoods around the country.
This project deepens the cooperation between Africa Israel and BST. Last year, the companies bought two plots to construct 230 prestigious residential units in Ramat Gan, and are planning to build the Bishop's Palace project in Nazareth together. The partnership ratio is 50:50 for all joint projects the two companies undertake.
Yoram Keren, Director of Africa Israel's Residential Division, said that the project is located in a quiet, exclusive area in the center of the town. "I am certain that those who buy apartments will enjoy this quality project that Africa Israel, in partnership with BST, is planning to construct," Keren said. "I am sure that these apartments will benefit from Africa Israel's 70 years of experience that can be seen in the uncompromising professionalism and quality that characterize Africa Israel's Savyonim neighborhoods."
BST General Manager Mr. Subhi Tannous said, "We are happy to deepen our partnership with Africa Israel."