TEL AVIV (Feb. 27)
A longtime Tel Aviv landmark, the “Red House” of the Histadrut, Israel’s labor federation, will be torn down and replaced by a multi-story popular-priced hotel.
Yehoshua Levy, head of the Histadrut Hotel Corporation, said 140 rooms would be built in the first stage and 200 rooms later in the second stage. Funds for the project will come from Histadrut and the Government. The Histadrut structure got its name from its color, which was camouflaged during World War II, and never restored to its full original red color. Nevertheless, the structure kept its name.
In another building development, a group of British investors invested about $350,000 in a huge commercial center now under construction in Tel Aviv. The purchase will give the investors the entire ground floor which they will furnish and equip for re-sale.