Reuters reported today that Donald Trump will team up with Crescent Heights Investments to build Trump Tower Tel Aviv, which will be the tallest building in and Trump's first in Israel. Construction and acquisition costs are estimated at $300 million.
Trump and Crescent Heights plan on purchasing the headquarters of food company Strauss-Elite, located across from the Diamond Exchange, for $44 million to build the 70-story luxury condominium community. Trump told Reuters:
"We are developing a signature landmark property so impressive that it will set a new standard for luxury condominium living in Israel," Trump said.
"I am confident that Israel's future can only go one direction and that is up," he said, adding he had been negotiating to buy the site for a year.
"Trump Tower Israel will redefine the city's spectacular skyline and bring the level of sophistication and design that Israel deserves."
No word yet as to what prices will be for the condos, but we expect them to match Trump's ambition in size.
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Posted by: vahila | July 22, 2008 6:14 AM | Permalink to Comment