Ashdar to build Rehovot neighborhood for IDF servicepeople

Ashdar, housing branch of Ashtrom Group, reaches agreement with IDF to build 300 houses for career soldiers and officers in Rehovot at 20 percent reduction

Ashdar Building Co., from the Ashtrom Group has reached an agreement with the IDF housing administration to build 300 housing units in Rehovot designated for IDF servicepeople, at a total investment of NIS 360 million ($87 million).

According to the agreement, Ashdar will assign 300 houses on 30 acres of land in the Dutch Rehovot building project for the IDF populace.

The houses will be approximately 1700 square ft built on plots of 3800 square ft. The real estate will be sold to the servicepeople at a 20 percent reduction on the market price – $320,000 (NIS 1.3-1.4 million).

Ashtrom is one of the largest private real-estate groups in Israel. Ashdar operates Ashtrom's private housing branch under the management of CEO Shraga Weisman.

Source: Naama Sikuler Published: Ynet: Israel Money. (04.10.07, 09:04) [FullText]