% 7. 2 CURRENT INTEREST RATE AVAILABLE ON A TAX-DEFERRED FIXED ANNUITY! Shop Till You Drop, Israeli Style Call Dan Barish at (810) 948-2902 for more information on fixed or variable annuities. mutual funds. and other securities. Azrieli's latest project encompasses mega office, commerce and retail complexes. /— ` -, M As a dedicated professional of Comerica Securities, Dan will personally assist you in GALIT LIPKIS BECK SPECIAL TO THE JEWISH NEWS ore than 15 years have procedures and a suit filed by the passed since the Tel Shalom Centers Company, Aviv Municipality first owned by Ashtrom, which corn- announced plans to turn peted against Canit in the tender the eastern part of the city, adja- to develop the area. Shalom Centers sued the Tel cent to the Ayalon highway, into a modern area of office and com- Aviv Municipality, Canit and its merce buildings. While it is not former architect Eli Attia, who yet possible to see anything new was fired from Canit almost im- in the district but a large hole mediately after the company won with tractors, developers of the the tender. In the suit, Shalom Hashalom Project have already Center claimed the municipality leased almost all of the commer- preferred Canit's proposal over cial space and started to market their's because of Attia's design the three high-rise towers that and presumed continued in- are expected to change the city's volvement in the project. Once Canit fired Attia, the plaintiffs skyline. The Hashalom Project is the argued the city was not obliged largest development ever under- to keep its contract with Canit. taken in the country. The $300 About eight months ago, Tel Aviv million project is even considered District Courtruled in favor of Mr. Azrieli's winning bid, giving big by American standards. The eight-acre area is located him the green light to start con- between the Ayalon Highway struction. "They sued us because of sour and Derech Petah Tikva across grapes. They invented accusa- from the General Staff head- quarters. Upon completion it will tions against us and the city, include a 42-story circle tower, a which were rejected by the court. 37-story triangle building and a They were instructed to pay court 32-story square building. It will also have a 2 112-story retail com- plex that will include leasable space and parking facilities for 3,600 vehicles. The project is being developed by Canadian millionaire David Azrieli, who has almost 40 years of experience in the design, con- struction and management of shopping malls and office com- plexes in Canada, the United States and Israel. In Israel, Mr. Azrieli is known as "the father of the shopping malls." Mr. Azrieli's company Canit built the Ayalon shopping mall in Ramat Gan, the first enclosed mall in the country, the Canion Hanegev in Beersheba and the Jerusalem Mall. The three malls' total sales turnover reached about $700 million last year. Mr. Azrieli sees the Shalom Project as the most significant and important project that he will ever build. "I always had the pre- monition and hope that Israel would be the place in which I would build my lifelong enter- prise," Mr. Azrieli says. "The Shalom Center is this enterprise. It will grace the Tel Aviv skyline for many years after my depar- ture and will always be a major milestone in my life." Canit won the tender to con- struct the Shalom Project in June 1992, but construction was de- layed because of bureaucratic APY expenses," Mr. Azrieli says. Despite the complications, Mr. Azrieli says Canit has succeeded in advancing the project's com- pletion date. "Originally we announced to the city that it would take us 10- 12 years. We will finish the pro- ject before 2000. It will open up in four stages." The parking facility, which will be one of the largest in an urban area in the world, is scheduled to open in 1997. It will consist of four levels, each about eight acres in size. Vehicles will have direct access to the parking lot from the Ayalon Highway, Derech Petah Tikva and Derech Hashalom. By foot, it will be possible to enter the center by a series of pedes- trian bridges from the commuter rail station and across Derech Petah Tikva. The shopping mall is sched- uled to open in 1998. It will have 140 stores, three anchor stores, repositioning your hard- earned assets in the most efficient and tax-advantaged manner possible. DAN I. BARISH VICE PRESIDENT REGIONAL SALES MANAGER Comerica Securities WE LISTEN.' E UNDERSTAND WE MAKE ITWORIC Fixed annuities .11,21. k:A by Cornerica Insurance Services. Inc. Mulual Funds. variable annuilie, and ether securities offered by Cumerica Securities. a broker- Comerica insurance Services. Inc. and dealer and member NASD/SIPC.. Comerica Securities arc offiliales of Comerica Bank. Annual Percenlage Yields (APY) subject le winge Interest cornpeunds ihaly. This fixed .enmity preduci is underwrillen by the Life Insurance Company of the Souiliwosi (Dallas. TX) and is policy form no. 7672. NOT FDIC INSURED May lose value No bank guarantee Internet Access for 50% Less! SHOP page 55 Than: AOL, Compuserve, Prop ligy, Microsoft Network and other Local Internet Service Providers You Pay: $12.50/month You Get Unlimited Hours, Free Internet Software, 6 month or I year contract Includes: VVVVVV browsing, E-mail, RealAudio Newsgroups, Ftp, Telnet, Gopher, Shell accounts, Graphics, Text, etc. Services: Dialin, Leased Lines, VVVVVV Publishing, VVVVW Site Hosting, Internet Seminars, Computer Product Reselling Call (8 0) 334-5492 11,SpeedLink & A Division of SpeedNet. Inc. http://www.speedfink.net e-mail: mellho@speedlink.net 53 1/2 West Huron Street, Site 211 Pontiac, M148342 FOR THE BEST 110 0 PRICE ON A NEW OR LA CALL Stanley Kaufman USED 800.486-5253 53