Tidhar and Shufersal to build a 30-story tower in the Talpiot neighborhood of Jerusalem

Tidhar and Shufersal will build a 30-story tower and a 9-story building in the Talpiot neighborhood of Jerusalem. The project will include about 240 apartments and 12,000 square meters of commercial and office space. Shufersal expects a profit of 50 million shekels before tax.

Tidhar and Shufersal will build a 30-story tower and a 9-story mixed-use building in the Talpiot neighborhood of Jerusalem. Shufersal's subsidiary, Orvani Investment Company, signed a combination agreement with Tidhar for a plot of about 5.61 dunams at the corner of Pierre Koenig and Poalei Tzedek streets, currently used mainly as a parking lot. The project will include about 240 apartments (about 56 of them for rent) and about 12,000 square meters for commercial and office use. Shufersal expects a pre-tax profit of about 50 million shekels from the deal, with its minimum share in the project set at 38% in residential, 41% in commercial, and 35% in office space. The agreement includes a clause granting Tidhar the right to cancel if profitability falls below a set threshold.