Tel Aviv apartment plots sold for record NIS 400 million

The economy is smarting under the weight of the coronavirus pandemic, but some are still raking it in.

The Plaza International real estate firm announces that it has signed a preliminary agreement to sell two plots of land in north Tel Aviv to the Hagag Group for a record NIS 400 million ($112 million).

Two towers are slated to be built on the plots, in the Park Bavli project near the city’s Bavli neighborhood, with at least 190 units each.

Plaza International is owned by the Tshuva Group and controlled by Gal Naor, the daughter of tycoon Yitzhak Tshuva, who lives in the project’s first tower.

A second tower is slated to be completed in 2023.

Illustrative: Residential towers in north Tel Aviv on September 22, 2016. (Miriam Alster/Flash90)