Mamilla project in Jerusalem
Photo: Channel 2
Jerusalem flat sold for record $9 million
European citizen pays record price for Jerusalem apartment in luxury project Mamilla
New York is not the only city to break real-estate records. Israeli real-estate company Alrov sold a flat for a record $9 million in the Mamilla housing project in Jerusalem.
The flat was sold for a European citizen whose identity has not been disclosed.
Alrov, owned by Israeli entrepreneur Alfred Akirov, sold 12 apartments in Mamilla this year.
The owner of the $9 million flat paid $25,000 per meter square.
Mamilla apartments seem to be beyond the financial limits of most Israelis, as all buyers are foreign. A third of Mamilla owners are European and two thirds are American.
Mamilla is the most prestigious housing project in the capital and includes a commercial area and a hotel. In 2008, when construction is completed, 38 additional luxury apartments will be built.
Alrov netted NIS10.6 million in profit from the sale of six apartments in Mamilla for NIS 56 million.
