Magdilim: Pinui Binui in Jerusalem: 350 new apartments are expected to be built

The project includes the demolition of four railway buildings, including 144 housing units and the construction of a residential tower and six buildings

Asden Israel reports that it has been selected to promote an evacuation-construction (Pinui Binui) project for the construction of about 350 housing units in one of the central locations in Jerusalem. This is a complex that extends over 8.5 dunams, located in the Greek Colony, and connects the German Colony neighborhood, old Katamon and Baka, in the most sought-after and prestigious locations of ​​the city. The scope of cost of the project is about NIS 700 million.

According to the plan, instead of four old railway buildings with 144 housing units, Asden Israel will build a residential tower and another 6 7-8-story buildings that will include a total of 350 housing units. In addition, the project will include a large green park that will serve the residents of the complex.

According to the report, the company was selected as part of an invitation procedure for a bid proposal published by the tenants’ representatives, accompanied by attorneys Yishai Itzikovich and Doreen Ifergan from the law firm of Agmon & Co. About 20 of the largest real estate companies in the country competed in the process, and Asden Israel and Azorim qualified for the finish line.

The project will be called “The Colony Park” and it joins the two main projects of the company in the area – The Mesila project and the Park 8 project, as well as the new country club that the company is currently establishing in the German colony.

Read the full article here.

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