Yuvalim company purchased a plot in Herzliya at a valuation of 200 million shekels

The Yuvalim company has purchased, as part of a joint ownership dissolution process, a plot of approximately 4 dunams in Herzliya at a valuation of about 200 million shekels, Calcalist has learned. This concerns plot 405, which is part of the "Kiryat HaMaslul" plan, already approved under TAMAL 1083.

The plot is located east of the airfield, between Kanfei Nesharim and Menachem Begin streets. In the future, it will be possible to build 158 housing units there, including small apartments, in two buildings: a 27-story tower and an 8-story building.

The plot was held by a large number of owners, including the settlement company "Kehilat Zion Americait," which is in liquidation and held about 33% of the land, and Yuvalim, which initially held about 20% of it. During the sale, Yuvalim signed option agreements with other landowners, and its share rose to about 53%, so the offers it submitted reflected the full value of the land.

The appraisal value received for the land stood at 171 million shekels. After the first round of offers, a stage for improving bids was set, with a starting amount of 150 million shekels. At this stage, offers were submitted by Guy & Doron Levi (155 million shekels), the Torah VeAdama Nadlan company and the Euro Shi Hai company (155 million shekels), as well as the Yuvalim company. Ultimately, the offer from Yuvalim, which reflected a land value of 200 million shekels, prevailed. In practice, Yuvalim will pay only for the 47% of the area not held by it — about 94 million shekels.

The receivers for the dissolution of joint ownership were Adv. Yossi Mandelbaum (Lipa firm), Adv. Shai Rohe (Boaz Rohe firm), and Adv. Shelly Shalom Nahum (Nahum Gelman Cohen firm).