Ritz Carlton in Herzliya now fetches $15,000 per sqm

Foreign residents bought three apartments in the Ritz Carlton hotel and residential project at the Herzliya Marina for NIS 19.8 million. The project is being built by Tidhar Ltd. and Adis Investments Ltd.

A Swiss businessman bought a 141-square meter apartment with a 15-square meter balcony on the project's ninth floor for NIS 8.2 million, at a record price of NIS 58,000 per square meter. A Swiss family bought a 138-square meter duplex with a 40-square meter balcony on the project's ninth and tenth floor for NIS 7.8 million which represents NIS 56,500 per square meter. And an American doctor bought an 85-square meter apartment with a 10-square meter balcony on the seventh floor for NIS 3.8 million or NIS 44,700 per square meter. But under the sale terms, the buyers may reside in the apartments for only six months per year, the apartments being used as hotel suites for rest of the year.

The Herzliya Ritz Carlton is due to open in mid-2013. The 12-storey hotel will have 15 ballrooms on the lower six floors and 82 recreation apartments on the upper six floors.

Source Globes