Developers to Pay Tel Aviv Residents NIS 75 Million to Move

Seven households living in an upscale Tel Aviv neighborhood will be compensated for leaving their homes to make way for high-rise apartment projects.

Seven households in Tel Aviv's Givat Amal Bet neighborhood south of Bavli will be paid NIS 75 million to leave their homes in order to make way for a new project by Inbal Or. The landowners are due to receive another NIS 210 million for the plot.