By MIRIAM BULWAR DAVID-HAY (TRANSLATED)
Despite the economic recession, Ra'anana's landmark Ahuzat Bayit retirement complex is to get a massive NIS 100 million addition, reports www.local.co.il. The Malibu Israel development company, which owns the center, plans to build a fourth tower containing 100 apartments on to the existing 270-apartment, three-tower complex, and says the new building should be ready to take in residents in about two years.
According to the report, the company has announced plans to spend the NIS 100 million to build an eight-story tower in place of the two-story building that until recently served as the center's chronic nursing care wing. The nursing care wing has now moved to an adjoining rented building, which recently underwent renovations at a cost of NIS 12 million. Last week Mayor Nahum Hofree and company managers officially inaugurated the new nursing care wing.
A company spokesman said that despite the economic crisis, there was "great demand" for larger, more expensive apartments in the complex, and the project would be of particularly high quality. The report said the new tower would contain 100 two- and three-room apartments of 50 to 80 square meters each, among them a penthouse and garden apartments. Some 320 residents currently live in the complex's 270 apartments, and 140 workers are employed there.
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