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Article: British-Israel to buy third of IKEA Rishon LeZion project: The company has bought 73% of Ra'anana's Millennium House for NIS 130 million.
- Article from:
- Globes
- Article date:
- July 12, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ilanit Hayut and Tal Hazan
Jul. 12--Sources inform "Globes" that British-Israel Investments Ltd. (TASE: BRTS) will buy one-third of the IKEA Israel project in Rishon LeZion when the legal hearings on the project are over. The company will exercise its option from Iris Hagilboa Construction and Development Ltd., which owns the land rights of the Me'uyan Soreq site where the IKEA store will be built. British-Israel can increase its option to 43.33 percent. Bronfman Fisher Investments Inc. owns IKEA Israel.
IKEA Israel chairman Ron Hadassi said that NIS 300 million had already been spent in developing the site, not including investment in the ...