Kirya-Tech B complex to cost some NIS 75 million, join Kirya-Tech A complex built by company decade ago
Shay Pauzner, Calcalist
Industrial Building Corporation (IBC) has laid the cornerstone for the first of two new buildings at the Yokneam Illit High-Tech Park in northern Israel.
The total area of the first building will be some 15,000 square meters (161,460 square feet) aboveground, and its construction is scheduled to end in the first quarter of 2013.
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The company said Monday that estimated value of the new complex, named Kirya-Tech B, was NIS 75 million (about $20 million). The project was launched due to high demand for office space in the area.
The Yokneam Illit High-Tech Park currently includes some 110 manufacturing plants and high-tech companies in the fields of biotechnology, communications, electronics and plastics, which have an aggregated annual turnover of $4 billion.
Among the major names based in the park are EZchip, Marvell, Given Imaging and Mellanox.
„The new complex will respond to growing demand in Israel’s advanced high-tech industry for strategic locations and high standard spaces suitable to the standards that the field’s large workforce is accustomed to,” said IBC CEO Moshe Morag.
„The new complex will boost the city of Yokneam and surrounding communities and give companies the incentive and opportunities for optimal growth.”
The Yokneam technology park is located on Route 70. Companies and entrepreneurs which chose to rent space in the park are entitled to business-growth incentives due to Yokneam’s status of Development Area A.
A decade ago, IBC built the Kirya-Tech A complex spanning 20,000 square meters (215,300 square feet), which houses the local headquarters of companies such as CMT, Medingo, Mind and Trig.
In 2010, IBC completed the designated building for Lumenis at a cost of some NIS 95 million ($25 million).
