The Afridar and Efgad building companies are joining forces to build a residential project that will add 311 apartments in six towers to north Tel Aviv.
By MIRIAM BULWAR DAVID-HAY (TRANSLATED)
The Afridar and Efgad building companies are joining forces to build an upmarket residential project that will add 311 apartments in six towers to north Tel Aviv, reports www.local.co.il. The project will see five old three-storey apartment buildings being evacuated and torn down, with each of the 120 families currently living there being given apartments in the new buildings.
According to the report, the luxury project will be built in the Neve Sharett neighborhood in north Tel Aviv and is part of a wider project to create 1,000 new apartments in the area. The report said four of the six buildings would be 10 stories tall and their construction would take about two years, while the remaining two buildings would be 24 stories tall and work would take three years. The total cost will be about NIS 300 million.
The report said the project will contain four- and five-room apartments in luxurious buildings with spas and other amenities, and apartments would be sold for a minimum of NIS 1.7 million each. A company spokesman said each of the 120 families being evacuated from their buildings would be given new apartments significantly larger than those they were leaving.
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