Kardan Nadlan said it acquired a 50% stake in a new construction project in Beit Shemesh, through the purchase of half of the shares in "Yesodot Tsur," the company formed to build the 380 homes planned for the development.
The combined market value of all of the homes will be around $100 million.
Of the 380 residences, 188 will be cottages, which were expected to sell for $370,000 apiece. The other 192 homes would be in apartment blocks, four or five rooms in size, and would be sold from $200,000 each.
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