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J'lem Economic Corp. to build apartments in Canada
JEC announce agreement with third party to build 1,100 apartments, 1,200 stores near Bridlewood Mall in Toronto, Canada
Ynet
Published:         11.23.06, 19:24
The Jerusalem Economic Corporation Ltd, under the control of Eliezer Fishman, has signed an agreement with a third party to build a real estate project near the Bridlewood Mall in Toronto, Canada, which will consist of 1,100 apartments and 1,200 stores on a plot of land currently used as a parking lot for the mall.
According to the agreement, the sides, together with the third party company, will establish a joint company with equal investments by all sides. The new company will construct the project and will pay for all of its expenses, including the land use conversion, the marketing, and the planning. According to the initial plans, the project will be marketed in stages, and with every completed stage, the land under it will be given to the lending bank as collateral.
CEO of the Jerusalem Economic Corporation Oded Shamir said that the deal refers to a mall which was purchased about five years ago by the Jerusalem Economic Corporation and Darban Investments, also under the control of Eliezer Fishman. "The apartments will be built on a large plot of land which was used as a parking lot. The apartments near the mall will increase the number of visitors to the mall and will help raise the value of the land," Shamir said.
The Jerusalem Economic Corporation Ltd. is Israel’s largest real estate company in terms of property assets held in Israel . The company and its subsidiaries own, develop, rent and manage real estate assets for industry, manufacturing, high-tech, offices, commerce, and residence in Israel, North America and Europe.
JEC announce agreement with third party to build 1,100 apartments, 1,200 stores near Bridlewood Mall in Toronto, Canada
Ynet
Published:         11.23.06, 19:24
The Jerusalem Economic Corporation Ltd, under the control of Eliezer Fishman, has signed an agreement with a third party to build a real estate project near the Bridlewood Mall in Toronto, Canada, which will consist of 1,100 apartments and 1,200 stores on a plot of land currently used as a parking lot for the mall.
According to the agreement, the sides, together with the third party company, will establish a joint company with equal investments by all sides. The new company will construct the project and will pay for all of its expenses, including the land use conversion, the marketing, and the planning. According to the initial plans, the project will be marketed in stages, and with every completed stage, the land under it will be given to the lending bank as collateral.
CEO of the Jerusalem Economic Corporation Oded Shamir said that the deal refers to a mall which was purchased about five years ago by the Jerusalem Economic Corporation and Darban Investments, also under the control of Eliezer Fishman. "The apartments will be built on a large plot of land which was used as a parking lot. The apartments near the mall will increase the number of visitors to the mall and will help raise the value of the land," Shamir said.
The Jerusalem Economic Corporation Ltd. is Israel’s largest real estate company in terms of property assets held in Israel . The company and its subsidiaries own, develop, rent and manage real estate assets for industry, manufacturing, high-tech, offices, commerce, and residence in Israel, North America and Europe.