MBR from Jerusalem is establishing a membrane-based wastewater treatment facility for the Makhteshim plant in Ramat Hovav at a cost of 77 million shekels. The facility will begin operating in mid‑2006. The plant will treat 3,000 cubic meters of raw wastewater per day, which is equivalent in concentration to 40,000 cubic meters of municipal sewage, due to the high pollution levels produced by the factory. At the end of the treatment process, the output will be sludge and water

Two years after purchasing the Vantage Tower, located in the Murray Hill neighborhood in the eastern part of Midtown Manhattan, Acro Real Estate and Gaia Real Estate completed its conversion from a single-owner residential building into a residential building divided into private housing units, including all the services typical of luxury buildings. The companies bought the tower from banking giant UBS, and according to Accru Real Estate, about $100 million was invested in it

Acro Group Ltd. has acquired the 17.5% stake of Polar Investments. Acro Group Ltd. has acquired the 17.5% stake of Polar Investments Ltd. (TASE: PLR ) in CityPass , the Jerusalem light rail franchisee, for NIS 26 million. The core businesses of Acro Group, a private company owned by Arbov Investments Ltd. and Virometal Investments Ltd., are real estate and infrastructure. The company’s real estate portfolio in Israeli and Manhattan is worth NIS 3 billion. The company’s ma

A partnership between Canada Israel and Acro Real Estate has won the most expensive land tender ever issued by the Israel Land Authority (ILA) for state-owned land. The tender was for the Kanarit complex in the Kirya area of Tel Aviv. The winning bid submitted by the partnership totaled 821 million shekels (excluding VAT). In return, the companies will receive building rights for two 44-story towers, which will include 330 residential units, as well as office and commercial

The 33-story Setai building is located at 40 Broad Street, on the corner of Wall Street, in the heart of New York’s financial district. Herzliya-based Acro Group has completed its $80 million purchase of a majority of the prestigious Manhattan residential building Setai, he company announced Tuesday.Acro USA, the American real-estate arm of Acro, which is owned by Tzahi Arabov and Ilan Kapon, will acquire Setai ’s approximately $160 million in debts after winning the tender

The Supreme Court in Jerusalem is currently undergoing a green renovation aimed at reducing electricity consumption by approximately 30%. TECH E.H.S, the company that won the Ministry of Finance’s tender for energy efficiency across 15 government institutions, is replacing the entire lighting and air conditioning systems in the building. The upgraded systems are expected to save 25–30% in annual electricity usage. Following a successful pilot project at the Ministry of Nation

Gaia Real Estate and Acro Group closed on the $75 million acquisition of a Murray Hill rental building. The developers plan to convert the Montrose, a 97-unit rental building at 3 08 East 38th Street , into condominiums, Commercial Real Estate Direct reported. The seller was UBS Realty Investors, which bought the building for $59.2 million in 2006. “This new project is in line with Gaia’s strategy to add value by upgrading properties in order to deliver enhanced returns to ou