Gindi Nearing Deal With Owners Over Collapsed Balcony at Hadera Project

Developer set to pay over $2 million compensation to 29 owners after eighth-floor balcony at unoccupied block fell in December 2013.

Gindi Investments, a major property developer whose projects include Park Hadera in the central coastal town, is in advanced negotiations to provide 29 of the apartment owners with about 250,000 shekels ($72,000) per unit in compensation after a balcony at one of the project’s buildings collapsed last December.