| The planned 40,000 sq.m. Creo-Scitex project in Hod Hasharon was officially laid to rest last week. A Tel Aviv District Court judge accepted the appeal of the Society for the Protection of Nature in Israel and reversed the decision of the Hof Sharon Local Planning and Building Commission permitting Yakhin Hakal to construct high tech buildings on the site. Yakhin Hakal planned to lease these buildings to Creo-Scitex.Creo-Scitex already told “Globes” several weeks ago that it had cancelled the deal with Yakhin Hakal, controlled by Sammy Shimon, and also abandoned a plan to construct a nearby residential project with 250 houses. Creo-Scitex is now negotiating with other developers to rent 23,000 sq.m. Until now, however, there was at least a theoretical possibility that the negotiations with Yakhin Hakal could be renewed.
Published by Israel’s Business Arena on October 21, 2001 |
