Towards a large project: A combination agreement was signed in the Makor Chaim neighborhood – in a 23-story tower plan

by time news

Azorim announced that it has signed a combination agreement in the Makor Chaim neighborhood. In the plan – a 23-story tower that includes 114 housing units, commercial areas, employment, sports and recreation. Expected revenue – NIS 176 million

Posted on: 11/24/21 8:15 AM

Azorim announced yesterday, Monday, the signing of a combination agreement at 60 Makor Chaim Street (Plot 4, Block 30130). The plot is located between Makor Chaim and Horseshoe streets. The area of ​​the plot of land is 1,835 sq.m. “As long as the master plan is approved, it will apply to the above-mentioned land and to the adjacent plot 3,” the areas emphasize.

In accordance with the provisions of the master plan that began today, a 23-story residential building can be built that will include up to 114 housing units, 1,550 square meters of commercial space, about 2,500 square meters of employment space, about 1,300 square meters of sports and recreational areas and about 500 square meters. Public buildings. The company estimates that the cost of investing in the project is expected to amount to NIS 153 million (excluding VAT) and the expected revenue volume in the project is NIS 176 million (excluding VAT).

It should be noted that Adv. Uri Lombroso from the law firm of Y. Lambrozo represented the landowners, and Adv. Teri Daloya from the law firm of Adv. Dahan-Daloia represented the Azorim company.

“This transaction joins a series of deals signed by the Azorim company in the Jerusalem area – at the Pat junction, Har Nof and Beit Hakerem – and alongside other projects that are in urban renewal that the company is leading in the city,” Azorim said. “The Makor Chaim neighborhood is located in the south of the city of Jerusalem, in the area of ​​the sought-after Ghost Valley near the Railway Park and is characterized by a convenient and strategic location in the city.”

Azorim CEO Ron Avidan: “We welcome the agreement in the desired neighborhood, Makor Chaim joins a series of significant agreements signed recently in the city of Jerusalem. The neighborhood is already in significant momentum and development and we expect that in light of the neighborhood’s renewal, it will enjoy high demand. Centers for investment and development, thus leading a number of projects, including urban renewal, that appeal to a diverse target audience. The future project is expected to be of great value to both the region and the Jerusalem target audience. In areas of demand. “

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