EARN HIGHER YIELDS! x.75 °'° The Silicon Plains MONEY MARKET* Mayor Milo has announced the expansion of Tel Aviv's high-tech industrial park. GALIT LIPKIS BECK SPECIAL TO THE JEWISH NEWS Sterling BERKLEY • (810) 546-2590 BIRMINGHAM • (810) 646-8787 CLAWSON • (810) 435-2840 ROCHESTER • (810) 656-5760 bank &trust SOUTHFIELD • (810) 948-8799 W. BLOOMFIELD • (810) 855-6644 "We create solutions."® ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF 11/15/96. RATES SUBJECT TO CHANGE WITHOUT NOTICE. 'MONEY MARKET: $2.500 MINIMUM BALANCE REQUIRED. STATEMENT FEES MAY REDUCE EARNINGS IF MINIMUM BALANCE IS NOT MAINTAINED. 1 / (810) 541-5025 STOP \ Internet Everything you wanted to know about the Internet but were afraid to ask . ONE STOP Internet is the place to start We Will... • Find the right provider for you • Setup the software you need • Show you how to use the 'net effectively • Do your business or personal web pages Just call us at (810) 541-5025 and we will help you with the rest. All for surprisingly reasonable rates. ■ ■ ■ Visit Our Web Site at ■ ■ ■ http://www.rust.net/-.mvs/onestop.htm or e-mail us at mvsgrust.net Complete Financial Services PaineWebber Invest With More Intelligence Gerald E. Naftaly Vice President-Investments 32300 Northwestern Hwy., Suite 150 Farmington Hills, MI 48334 T (810) 851-1001 or (800) 533-1407 BO s if there were not enough industrial buildings in the center of Israel already, the Tel Aviv municipality recently announced the devel- opment of another large-unit in- dustrial space in the Atidim Park. No different than other mu- nicipalities, Tel Aviv is interest- ed in increasing its revenues. Almost all cities aim to attract high-tech firms, which pay high taxes and do not damage the en- vironment the way a factory might. More than $100 million will be invested to expand the Atidim Park. The park, which was built by Atidim in 1972 and is owned by the Tel Aviv Municipality and Tel Aviv University, maintains 11 buildings occupied by 85 high- tech companies that employ 3,500 people. It is situated north of Tel Aviv, close to Tzahala, Ra- mat Hahayel and Neveh Sharet. According to Tel Aviv Mayor Roni Milo, the complex is grad- iislly turning into the central re- gion's "Silicon Valley." Under construction is the 19-floor Atidim Tower office, which is close to completion. Adjacent to the tower is a business center, which is occu- pied by restaurants, shops, a mini-market, a bank, a post of- fice and other services. In addi- tion, there is a parking structure with a capacity of about 1,100 ve- hicles. About $36 million was in- vested in the complex, which was designed by Zarhy Architects. For the first time, Atidim in- tends to rent out space to free- trade professionals as well as high-tech firms. The country's 10 largest con- struction firms reported a 13 per- cent drop in sales in January, after four months in which they registered a small growth. Com- panies said they sold fewer apartments even though they continued to provide discounts. Comparing January to De- cember, Ben Yakar Gat's sales almost halved to 24 apartments compared with 51, Shikun Ovdim sold 102 apartments compared with 121 and Housing and Development managed to sell only 69 apartments, com- pared to 83 previously. Standing out was Azorim, which reported a growth in sales, to 43 apart- ments, compared with 24 in De- cember. Apai tment prices will contin- ue to fall in 1997, according to Bank Hapoalim's economic divi- sion. According to the ;econo- A VISIT ONE OF OUR LOCATIONS NEAR YOU! Advertise in our new Entertainment Section! Call The Sales Department (810)354-7123 Ext. 209 THE JEWISH NEWS mists, construction of 52,000 apartments will be completed this year, up 12% compared with 1996. The bank expects the de- mand for housing to reach 50,000 units this year. Amdar Residence and the Ella Bros. have started construction of the Amdar Towers Residence in Eilat. The complex which will consist of 54 apartments on a plot situated in the Amdar neighborhood, Eilat's villa dis- trict. The development will include two buildings, including garden apartments, penthouses and du- plex apartments, with a garden The 70 signed contracts in- clude two-story, five-room cot- tages as well as four-room apartments. Prices range from $153,000 for a four-room apart- ment to $211,000 for a five-room cottage. Designed specifically for the religious sector, the buildings in- clude a Shabbat clock and shab- bat elevator and double sinks. In addition, each unit has a covered parking space and a detached storage room included in the price. Rothstein is building 525 units in Netanya and 125 in Modi'in. The company recently complet- and a private swimming pool. The developmers also intend to construct four-room apartments, starting at $300,000. According to the developers, the "exotic" residential building will be one of the most luxurious apartment complexes in Eilat, offering residents a sea view in addition to seven swimming pools, a spa, a health club, a cof- fee shop and a host of services. Occupancy is scheduled for the end of 1998. D. Rothstein, developer of the new Ramat Bet Shemesh devel- opment, announced the sale of about 65 percent of the 110 apartments and houses offered since marketing began in 1996. This is the first time in Roth- stein's 50-year history that they have offered any development exclusively to one market seg- ment, in this case the national religious. About 40 percent of the buyers are from Jerusa- lem. ed development of large resi- dential projects in Rishon Lezion and Mevasseret Yerushalayim. It also has significant commer- cial projects under construction in Jerusalem and Holon. Ofarim Buildings, a company jointly owned by the Ofer Broth- ers and Gazit 2000, have sold 29 of the 120 apartments in the exclusive Marina Village devel- opment currently being con- structed in the Herzliya Pituah marina. The apartments were sold for a total of $7.5 million. About $25 million will be in- vested in the development. Upon completion it will include three, three-floor, apartment buildings consisting of 120 apartments. The price of a two-rom apart- ment varies from $225,000 to $305,000 (depending on whether it includes a garden). The price of a four-room apartment with a garden or roof, starts at $505,000. ill (c) Jerusalem Pqs... t 1997