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Harel Insurance buys half of new Comverse HQ for NIS 143m
Harel and Blue Square Real Estate will complete construction of the new Comverse HQ at a cost of NIS 285 million.
21 January 13 18:10, Shlomit Tsur
Harel Insurance Investments and Financial Services Ltd. has bought half the new Comverse headquarters under construction in Ra'anana from Blue Square Real Estate Ltd. for NIS 143 million.
The project, known as the Alon Comverse Ra'anana building, has 25,000 square meters of space on 16 floors, plus underground parking for 868 cars. Comverse Technology Inc. signed the lease for the property with Blue Square Real Estate in May 2012, for NIS 20 million a year for ten years, with the options to extend.
Harel and Blue Square Real Estate will invest NIS 285 million in construction, which is due to be completed in late 2014, when Comverse will occupy the building and move from its current premises in Tel Aviv's Ramat Hahayal.
Published by Globes [online], Israel business news on January 21, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013