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The Ludwipol deal has been completed: what will the complex look like? - Walla! Real estate

2023-01-03T17:34:37.812Z


The Hajjaj Group reports to the Stock Exchange the completion of the financing for the purchase of the huge real estate project in the Ludwipol complex, located at the southern entrance gate to Tel Aviv and will include commercial, employment and hotel areas


The Ludwipol deal has been completed: what will the complex look like? (Photo: Hajj Group)

After in 2016 a plan was approved for the construction of an advanced and unique employment and commercial complex at the southern entrance gate to Tel Aviv, the Hajj Group completed the exercise of the options for the purchase of the land three months ago (September 2022) - and is now reporting to the stock exchange the completion of the financing for the purchase of the huge real estate project in the Ludwipole complex According

to



the report, the Hajj Group will borrow NIS 210 million from Bank Leumi. The complex, which will cover an area of ​​approximately 18 dunams, will include commercial, employment, and high-end hotel areas.



The Ludwipol complex is located at the southern entrance gate to Tel Aviv between Ayalon lanes, tax road 1 and through Kibbutz Galoyot, in addition to the fact that it is on the axis where the metro is expected to pass, and easy access to it by other public transportation is expected. The complex will include skyscrapers, combined with commercial and leisure complexes, in an innovative design by the Raphael de la Fontaine architects' office in collaboration with Barali-Levitsky- as a sword

"It will change the face of employment and commerce at the southern entrance to the city"

The land in the Ludwipol complex is approved for trade and employment to the extent of approximately 73 thousand square meters, and the outline plan for 5000 square meters allows the building rights to be increased to approximately 160 thousand square meters.

In the last decades, many entrepreneurs tried to unite the landowners in the complex and promote plans to improve the land.



One of the conditions for issuing a building permit for this plan is the approval of a consolidation and division plan, and due to the large number of owners and lack of agreement until the Hajj partnership entered the picture, it has not been done so far.

Now at the end of the process of negotiations and agreement with about 20 families who lived there, and in addition a large number of people related to the land, the purchase of the Ludwipol complex has been completed.

The options for the purchase of the land were exercised through the project company - a partnership of the Hajj group with companies owned by Ronan Hatzur and Ronan Ben Mocha.



The purchase of the rights of all the private owners in the land is estimated at approximately NIS 310 million, and the bank financing will allocate the required credit at a rate of about 70% of the cost to the Hajj Group for the purpose of purchasing the rights of the private owners in the land, including the reimbursement of part of the amounts paid up to this date by The project company out of loan funds advanced to it by the company and the partners.

CEO of the Hajj Group, Tamir Amer (Photo: Yanai Yehiel)

According to

Tamir Amer, CEO of the Hajjaj Group,

"We are opening the year 2023 with very significant news - the purchase of the majority share of the private owners and the provision of the necessary banking support for this in the Ludwipol complex, which is a flagship project for the Hajaj Group.

This is a major step in promoting the establishment of the project that will change the face of employment and commerce at the southern entrance to the city of Tel Aviv.

Following this move, the Hajj Group will continue to focus on the opportunities that arise during this period in the real estate market."

  • Real estate

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  • Tel Aviv Jaffa

Source: walla

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