Real Estate Company
Acro
+0.07%
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opening:6,911
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Its share was issued last February at a value of $ 4.1 billion and is traded today at a value of $ 3.9 billion. NIS 96 million for the land and about NIS 41 million for development expenses, the purchase price reflects a value of about NIS 1,300 per square meter.
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. 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.
Acro’s winning the tender strengthens its activity in this area and is currently in the process of building the ACRO BUSINESS CAMPUS business park project 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 next year.
In the CAMPUS project, 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 NOI For the commercial areas it owns and designates for rent.
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