As recently reported, Clal Insurance will invest in the ‘Vertical City’ project developed by Israel Canada and the B.S.R Group. The company plans to invest NIS 160 million in cash, acquiring a 24.5% ownership stake in the project.
Additionally, Clal will assume a portion of the loan used to finance the land acquisition, amounting to NIS 800 million. Consequently, the total value of the land involved in the transaction reaches NIS 1.32 billion.
The Vertical City project is located in one of the most central and strategic locations in Israel, known as the ‘Stock Exchange Triangle’ in Ramat Gan. This innovative and revolutionary mixed-use complex will consist of three 60-story towers, comprising apartments for rent, commercial spaces, and 110,000 square meters of employment space.
Menu
