Moore will receive 15% of the shares in Israel Canada

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Moore’s provident funds join Israel Canada’s investment in the old Shaare Zedek complex in Jerusalem. Israel Canada reports this morning that Moore will receive 15% of the project company’s shares for an investment of NIS 90 million.

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For Moore, which is managed by Eli Levy, this is the first capital investment of this magnitude in a single transaction since entering the provident fund in 2017. Along with Moore, Israel Canada, which is controlled by Assi Tochmeier and Barak Rosen, sold an additional 5% of the project company to other investors – for NIS 30 million.

Shaare Zedek Hospital in Jerusalem Photo: Wikipedia

Last July, Israel Canada won a tender to purchase the 17-dunam complex for NIS 540 million. The complex is a short walk from Gan Sucker and the Mahane Yehuda market. Israel Canada will remain with 80% of the project company.

The land is intended for the construction of two residential towers and two office towers, with the construction cost estimated at NIS 2.5-3 billion. The tender was attended by, among others, the companies Efi Capital, Shikun VeBinui Real Estate, Azorim, Keren Reality, Praszkowski, which approached the Migdal insurance company with a joint bid, and Sela Binui.

The size of the land is 17 dunams, while in the area of ​​the old building of the hospital, which was established in 1902, a hotel with 50 rooms will be built. The rights are for the construction of 150,000 square meters, including 240 apartments, and as mentioned, two office buildings. The four towers will be 24 storeys high. The tender was conducted by the Israel Land Authority.







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