BST Wins NIS 1.12 Billion Contract for Vertical City’s First Phase in Ramat Gan

BST Construction, wholly owned by BST Group, has won the tender to serve as principal contractor for Vertical City’s first phase in Ramat Gan’s Diamond Exchange district. The contract is worth NIS 1.12 billion excluding VAT and covers 236,000 square metres. The planned development combines offices, commercial space, rental housing and student dormitories. A work-start order is expected within several months, with construction scheduled to take 64 months and delivery proceeding in phases. The project partners are Israel Canada, holding 56%, B.S.R. Real Estate, holding 20%, and Clal Insurance, holding 24%.