Africa-Israel Housing to build 5 Jerusalem projects

The company is building projects in Arnona, Talbiyeh, Romema, and the city center.

Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK) subsidiary Africa-Israel Housing Ltd. (TASE:AFHS) plans to build five residential projects in Jerusalem. The company expects $500 million in proceeds from the projects.

The company plans to build 400 apartments on a lot in Arnona, 170 apartments on a lot in Romema, 100 apartments on the President’s Park lot in Talbiyeh, and in the city center, 100 apartments on the Nevi’im Court and 130 apartments on Harav Kook St.

Africa-Israel Housing operates only in the Israeli housing market, in contrast to most other Africa-Israel units, which have extensive international business interests. The share rose 2.3% in morning trading.

Published by Globes [online], Israel business news - www.globes.co.il - on October 14, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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