A new group of factory loft buildings were inaugurated this week in the Haifa Bay area by the Bayside Land Corporation, a wholly controlled subsidiary of the Palestine Economic Corporation.
The industrial development was opened at an official ceremony attended by American Ambassador Monnet B. Davis, Lee Harris, director of the Bayside Land Corporation, and representatives of the Trade and Industry Ministry. The lofts will be leased to small manufacturers who cannot afford to invest their own capital in buildings.
The objective of the Corporation is to develop a type of factory building which, on a business basis, could be rented to businessmen of limited financial means and thereby enable them not to freeze part of their limited capital in land and building but devote their entire capital to the financing of their businesses. The buildings are known as “Standard Factory Buildings for Lease.”
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
