Pershkovsky's Millenia project, in the Alef complex in Rishon Lezion (Photo: Viofont)
The Pershkovsky Investments and Building Company reports entering into a combination transaction with private rights holders on lot 1072 in the Alef complex in Rishon Lezion.
The lot is intended for the construction of 76 units in a residential tower of about 20 floors, where in exchange for the construction of the project, the owners of the rights will buy the company 49% of the value of the apartments they will build and 51% will give up their ownership.
According to the estimate, the value of the apartments upon completion will be over 4.2 1 million shekels on average, so the value of the entire deal is over 320 million shekels.
The Alef complex in Rishon Lezion is an area of approximately 1,000 dunams located in the southwestern part of the city, its borders are the Rishon West complex in the north, road 431 in the south, road 40 in the east and the Superland Park in the west. The entire plan allows for the construction of 5,500 housing units and approximately 1.8 million meters for commercial, industrial and employment uses, as well as 110 dunams of parks
The Thousand Plan: What is it about?
The "Alef Plan" divides the Alef complex into three complexes: one complex that is fully owned by the Rishon LeZion Municipality and which is mainly intended for building employment and the construction of which is already underway.
A second complex owned by hundreds of private landowners for which a consolidation and division plan was approved in which about 600 units were approved, lots intended for the construction of student dormitories, sheltered housing, hotels, commerce and offices some of which are under construction. A third complex, also owned by private owners, for which a plan was approved Consolidation and division a few months ago in an area of 330 dunams intended for the construction of approximately 3,000 housing units.
The plan for the third complex was approved only a few months ago, and it was possible to advance the signing of combination transactions thanks to the fact that the owners of the rights to the land were united in joint representation before the approval of the consolidation and division plan, and our office was able to verify That they be assigned a plot(s) in common, so that they can immediately after the approval of the plan promote a transaction.
Adv. Aviad Shob, partner in the firm Shob & Co. (Photo: Studio Thomas)
The landowners in the transaction were represented by attorneys Aviad Shub and Tania Samet from Shub & Co. law firm. The Pershkovsky company was represented by attorneys Dafna Singer and Tomer Segal from the Schnitzer Gottlieb Samet office.
The deal with Pershkovsky is the third combination deal signed by landowners represented by the Shub Co. office in the complex. About two months ago, a deal was signed between private owners and the Mitar company to build 67 units.
Another deal was made between the owners of land in the complex and between the companies Beser, Chen Palaces and Zvi Koparli for the purchase of land for commercial purposes and public buildings, in which the companies were granted 51.5% of the value of the rights to build there, while the owners of the rights will be given up 48.5% of the rights in the project to be built.
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