Solel Boneh to build BSR project in Hod Hasharon

The contract is worth NIS 53 million.

Sources inform ''Globes'' that Shikun u'Binui Holdings Ltd. (TASE: SKBN) contracting subsidiary Shikun u'Binui Solel Boneh Building and Infrastructure Ltd. will build a luxury high-rise for a buyers group organized by BSR Projects Ltd. (TASE: BSRP). The contract is worth NIS 53 million.

Solel Boneh beat other contractors in the tender including Uri Dori Engineering Works Corp. (TASE: DORI), Malibu Israel Ltd. (TASE: MLBU.B1), Danya Cebus Ltd. (TASE: DNYA), ZMH Hammerman Ltd. (TASE:ZMH), and BST Development and Construction Company Ltd.

The 23-storey high-rise will have 81 four and five-room apartments. Each four-room apartment will have 135 square meters of gross space, and will cost NIS 1.05 million. Each five-room apartment will have 147 square meters of gross space, and will cost NIS 1.3 million.

Shari Arison controls Shikun u'Binui, whose share fell 2% in early trading to NIS 7.26, giving a market cap of NIS 3 billion. BSR Project's share rose 1.5% to NIS 0.70, giving a market cap of NIS 36 million.

Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010