Businessman Henry Taic – owner of the David Intercontinental Hotel in Tel Aviv, Le Meridien Dead Sea, and Grand Court Jerusalem – has signed an agreement to bring the Kempinski luxury hotel chain in Israel.
The agreement was signed through Taic's company, Nahal Group.
The chain's first hotel in Israel will be built on half of a plot located next to the US Embassy in Tel Aviv, which currently serves as a parking lot. The hotel is slated to have 23 floors and 220 room and suites. Some NIS 200 million will be invested in the hotel, which is scheduled to open in 2013.
The hotel will be part of a project which will also include the Glass Cube luxury apartments that will connect to the hotel through a glass structure.
The housing project will include a 25-floor building with 60 to 70 apartments measuring 100 to 1,000 square meters (1,076 to 10,764 square feet) in size. The apartment owners will be able to enjoy the hotel services.
The Kempinski hotel chain was established in 1897 and is considered one of the world's luxury chains. It operates some 60 hotels and is in the process of building another 43.
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