Africa-Israel to complete building of two Heftsiba projects

Eli Yishai called on the gov't to hold an urgent meeting on the matter, saying sensitivity must be shown to the plight of those hurt by Heftsiba's bankruptcy.

August 9, 2007 07:06
1 minute read.
Heftsiba 88 298

Heftsiba 88 298. (photo credit: Ariel Jerozolimski)


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Bank Hapoalim said Tuesday that Heftsiba customers who purchased apartments in Har Homa's "Meduragai Har Homa" and Ma'aleh Adumim's "Nofei Haselah," will be able to move in to their apartments following the completion of their construction, which will be carried out by the construction company Dania Sibus. The apartments are already at an advanced stage of construction, awaiting only to be connected to power and water lines. According to Hapoalim, Dania Sibus, a subsidiary of the holding company Africa-Israel, will do its utmost to complete the construction of the combined 162 residential units as quickly as possible. Jerusalem Mayor Uri Lupolianski agreed with the move and said that his office would do its best to ensure that the work is completed in as timely a manner. "Getting electricity and water into these apartments is a humanitarian necessity," he said. "Customers paid a lot of money for these apartments and it is our job to make sure that they don't lose their investments." The bank stipulated however, that customers must complete the appropriate payments before they will be handed the keys. The agreement was facilitated by the bank-appointed receiver, attorney Ilan Shavit. Meanwhile, Industry, Trade and Labor Minister Eli Yishai called on the government to hold an urgent discussion on the matter of Heftsiba, saying the government should show sensitivity to the plight of families who were hurt by the company's bankruptcy. He also suggested that squatters who moved into Heftsiba houses when they learned of the company's collapse should have their houses connected to electricity. Separately, the Tel Aviv regional court issued a temporary injunction against Bank Leumi on Tuesday, prohibiting the lender from foreclosing on a guarantee that had been provided from the personal capital of Ya'akov Binyamin for the Tzimoret Construction company. Shares of Tzimoret had, for a time, been held by a company owned by the Heftsiba construction company's Mordechai Yona. Binyamin is being represented by the Rina Shiboleth law firm, which claims that Leumi is only seeking the guarantee because of Tzimoret's former ties to the now bankrupt Heftsiba. Guarantees are routinely provided when companies take out loans and are usually collected only in the event that the company cannot cover their loan. Bank Leumi told The Jerusalem Post it was not aware of the injunction. Jerusalem Post staff contributed to this report.

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