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Article: BRIEF: Alrov unit buys more land in Lausanne: An office complex is under construction on the lot, which is adjacent to the company's Lake Geneva Center.
- Article from:
- Globes
- Article date:
- September 2, 2007
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Byline: Tal Hazan
Sep. 2--Alrov Properties and Lodgings Ltd. (TASE: ALRPR) subsidiary Property Investment Holding BV (PIH) has bought land in Lausanne, Switzerland, for NIS 135 million. The lot is slated for the construction of a 6,500-sq.m. office building.
The lot is adjacent to the 6,900-sq.m. Lake Geneva Center office complex, which Alrov Properties acquired in November 2006. Construction of the new office building is due to be completed in mid-2008. PIH said that it has signed two leases with major public companies. With these leases, the new building will be 94 percent occupied, and generate NIS 7.3 million in annual rental income.
Alrov ...