The apartments are designed by Giorgio Armani.
The developers of the Neve Tzedek by the Sea project in south Tel Aviv have unveiled the project. The consortium promised that Giorgio Armani personally designed the project's penthouses and furnishings.
Neve Tzedek by the Sea is being built by ZMH Hammerman Ltd., Eurocom Real Estate Ltd. and the landowners, a group of Belgian diamond merchants. The project calls for 168 apartments in a 30-storey high-rise, but the developers want to add 10 more. The request will likely face strong opposition by local residents. The average price of apartments will be NIS 45,000 per square meter and NIS 100,000 per share meter for the penthouses.
The project includes an adjacent five-storey building with 15 duplexes and lofts, with street-level shops along Alhanan Street. The developers expect NIS 825 million proceeds from the project.
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2008
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