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The company will not participate in the execution stage of the project area owned by Tnuva; Partner, Gindi Towers 100 company, is considering to put in place the developers Moshe and Yigal Gindi; One of the problems the project is its largest density
Read more Bcllachlist: emerging: Canada Israel will wholesale market project Canada Israel and Gindi Towers another tower land purchased in the wholesale market for $ 365 million, Canada Israel added Gindi Investments negotiations for the purchase of land in the wholesale market
Canada's partner in Israel is a private company Gindi family, Gindi Towers 100 company owned by Uri Levy and his wife, Manor Gindi and Kfir Gindi. Gindi Towers now weighs 100 put in place Canada Israel as partners in the entrepreneurs Moshe and Yigal Gindi, the parents of the owners of companies Gindi Investments and Gindi Holdings.
In December 2013 Israel announced that it has acquired an post tracking Canada-led group yield and soil municipality 44-story tower and about 300 units for 365 million, and an option to purchase an identical Tower wholesale market area at the intersection of Carlebach, the Hasmoneans and Menachem Begin in Tel Aviv for about 380 million. Canada's equal partner in Israel an post tracking in the transaction is a private company an post tracking Gindi family, also owned by the said controlling shareholders through Gindi Gindi Investments Capital.
Israel Canada reported this week that it has received an extension of public exit from the partnership period, specified in the contract in December 2013, up to 22 May. The agreement signed in December granted 150 days in which Canada Israel may "retire by the strong execution of the project, provided it notifies the partner company written notice, delivered to the partner until the end of the exit." The partnership has been deposited with a trustee familiar - a group led by the municipality and yield - the first payment in the amount of NIS 25 million, of which 12.5 million were deposited by the Canada Israel.
Canada, Israel refused this week to address the possible an post tracking reasons for her retirement from the project. One of the problems the project is its great density - Little Triangle are expected to be built 1,200 housing units and other mall built area of 70 thousand square meters. In addition, in times of uncertainty in the real estate industry, resulting primarily from aggressive government plans to lower housing prices - may Canada, an post tracking Israel decided not to bet on such a significant amount of approximately NIS 745 million.
Land area remained for two more towers of 600 units which have not yet been sold land ownership. In the first part of the wholesale market site set up Gindi Investments, Moshe and Igal Gindi and Blue Square Real Estate 720 units (Gindi Tel Aviv project) and Canyon, as stated.
The fact that a public company as big as Canada Israel think, probably, the transaction would not worthwhile, raises questions about one of the largest land assets of Tnuva. Has been swept by a group led pocketed 1.4 billion an post tracking on the complex in recent years. Tnuva previously tried to sell the land division intact, but without success. Now, even the future of the second part of the three (first sold as stated Gindi and Blue Square) is unclear, since the Gindi family will have to find a partner to come in the shoes of Canada Israel. Gindi Investments also had a difficult year due to the collapse of the balconies in her room and therefore an post tracking appeal an post tracking to parents, Moshe and Igal Gindi, seems a natural choice.
Gindi Towers company said in response that "Canada-Israel message was in accordance with the agreement between the parties and in coordination with Gindi Gindi Towers that takes its share of the Israel-Canada project. Gindi Towers Israel-Canada an post tracking wishes success an post tracking in business."
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