http://www.globes.co.il/serveen/
The government agencies are paying $15.60 per sq.m. per month in rent in 20-year contracts.
Guy Yamin 6 Feb 05 14:52
The south Ministry of Defense headquarters (the Kirya) compound in Tel Aviv opened last week, and various government ministries and agencies are now occupying the premises. Half Jubilee Ltd., owned in equal shares by Africa-Israel Investments (TASE: AFIL) and Minrav Holdings (TASE: MNRV) built the project. The first stage comprises a 24-storey tower with 48,000 sq.m. of office, main and service space, and 1,000 sq.m. of commercial space on two floors. The project's second stage is still under construction, and scheduled for completion by year-end. The second stage, comprising 26,000 sq.m. of office space on 13 floors, is now being marketed.
The government agencies occupying the building include the Israel Tax Authority (22,000 sq.m.), the Ministry of the Interior (4,000 sq.m.), the Ministry of the Environment (2,000 sq.m.), the Ministry of Housing and Construction (3,000 sq.m.), the Ministry of Justice and Land Registry (4,000 sq.m.), the Israel National Employment Service (3,000 sq.m.), the Israel Land Administration (ILA) Tel Aviv and Central Regions (4,000 sq.m. each), the Government Printing Office (1,000 sq.m.), and the Civil Service Commission (1,000 sq.m.).
The government agencies are paying $15.60 per sq.m. per month in rent and $7 per sq.m. in management fees in 20-year contracts. The 36,0000 sq.m. in space the agencies are vacating are in the jurisdiction of the Tel Aviv municipality.
Published by Globes [online], Israel business news -
www.globes.co.il - on February 6, 2005