Ziv Yaakobi (Photo by Alex Fragment)
The Acro Group reports this morning (Thursday) that it has won a tender from the Israel Land Authority (RMI) to purchase the entire rights in the 14-dunam plot in Ramat Gan, in exchange for NIS 96 million plus legal VAT and a total of 41 million Shekel (including VAT) for development expenses to Rami. The purchase price reflects a total of approximately NIS 1,300 per square meter, including development expenses paid to RMI.
The plot is intended for the establishment of employment and commercial areas with a total volume of 106,000 square meters, of which about 3,500 square meters for trade and a permit for employment. The plot won by the Acro Group is located along Route 461 and adjacent to the light rail station of the Purple Line that is already under construction. The land is part of the South Tel Hashomer plan, which includes about 3,000 housing units. The entire environment enjoys a development boom and excellent accessibility to major transportation routes.
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According to the land construction plan, it will be possible to erect four 15-story buildings above the ground and another four buildings in textured construction. In addition, parking basements will be built in the project for the use of tenants and trade visitors.
The group’s winning the tender strengthens its activity in this area and it is currently in the process of building a project ACRO BUSINESS CAMPUS The business park between Savyon Junction and Kiryat Ono, which includes about 50,000 square meters of employment and commercial space and its construction is expected to be completed in the coming year.
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In the project CAMPUS Acro enjoyed high demand for employment areas and 94% of the areas designated by the company for sale have already been marketed at an average price of NIS 11,000 per square meter and a total income of NIS 362 million. In addition, the company expects to generate NIS 16 million each year WE For the commercial areas it owns and designates for rent.
The Acro Group, controlled by Tzachi Arbov and managed by Ziv Yaakobi, is an entrepreneurial company, one of the leaders in the field of real estate in Israel. Most of the company’s projects are in areas of demand in Gush Dan, with an emphasis on the city of Tel Aviv.
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At the beginning of March, the group joined the Tel Aviv Stock Exchange. The company raised an amount of about half a billion shekels in the IPO, at a value of about 4 billion shekels, thus becoming the largest company listed on the stock exchange since February 2018.
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