Av-Gad Holdings, a developer and builder of residential units in the urban renewal market, has signed an agreement for the purchase of 20 lots in Givat Olga, Hadera for approximately NIS 26.6 million.
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The company intends to use the lots to construct high-standard duplex homes. The lots are located on Kadima Street, about 500 meters (yards) from the beach.
About a month ago, Av-Gad successfully completed an initial public offering (IPO). The company raised about NIS 31 million, with a market value of about NIS 111 million. The IPO was led by Extramile Underwriting.
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Av-Gad chairman Michael (Michi) Ratzon: "We believe in the great potential of the purchased lots, in light of the attractive location and high demand for single-family homes in the area. I'm sure we can fulfill the lots' potential to yield profits for ourselves and the company's shareholders."
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