Newly-built workshops for small manufacturers and artisans, as well as modern stores and apartments, are offered for lease or sale in Haifa, Jerusalem, and other parts of Israel by the Palestine Land Development Company, it was reported today by the Jewish Agency’s Economic Department here.
American investors are participating in the venture through the American-Haifa Development Corporation of New York which has purchased the first three factory buildings, one of which is already fully occupied. American-Haifa has leased the workroom units to a number of artisans and manufacturers for periods of two to three years. The factory buildings sell for $15, 000 each. The price of a 500-square foot work room unit is $2,800.
P. L. D. C. is also offering a number of four-room apartments and stores in a new eight-story elevator building on King George Avenue, in the center of Jerusalem. The apartments sell for $8,500 each and the purchaser may rent them out on a three-year lease representing a net annual income of about 6 percent on the investment, or a ten-year lease with an annual income of about 7-1/2 percent.
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