Carasso plans building three towers of 41-48-floors each with 410 housing units including 144 affordable homes, as well as 111,500 square meters of office, commercial and hotel space.
The sale arises from options allocated to Shwed in 2017. He is due to step down as CEO and become executive chairperson, but no successor has yet been announced,
The Goldberg and Tocatly families discreetly dominated stock market operations systems for half a century, but a problematic venture into provident funds has brought unwelcome attention.
Price hikes can be expected for leisure, cultural and child care services as well as municipal parking fees as the city shaves NIS 500 million of its annual budget.
Israel's fiscal deficit continued to widen in April, reaching 7% of GDP over the past 12 months, or NIS 132.2 billion, the Ministry of Finance accountant general Yali Rothenberg reports.