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Cinema City rents 8,000 sqm from TNUVA near Glilot junction.
(From Israel Business Arena)
Byline: Elazar Levin
A Dutch company, owned by Israeli and French developers, has rented 8,000 sq.m. on the second floor of the Rav Mecher Building near the Glilot junction from TNUVA Co-Op for Marketing of Agricultural Produce in Israel. The Dutch company will use the space for 21 movie houses, and will pay 10-13% of turnover, or $14 per sq.m. per month, index-linked, whichever is greater. The lease is for 10 years, with options of 10 and four years.
The Dutch company is owned in equal shares by three developers: Beer Sheva insurance agent and former chairman of the Association of Insurance Brokers and Agents in Israel Yaakov Cohen, cinema developers Leon and Moshe Edrei, and French company Metropolitan, controlled by Victor and Samuel Hadida. The Hadida family owns real estate and entertainment assets in Paris, including the Lido building on the Champs Elysee.
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