Sami Shamoon is about to undergo a change of address in his visits to Israel.

Until now Shamoon had been spending less than six months a year in Israel, for tax reasons, living in one of his two apartments at Sea and Sun luxury apartment complex on the shoreline of northern Tel Aviv.

In the future he intends to take up residence on the top floor of an orphan's home he has constructed in Netanya. For comparison, during the other half of the year Shamoon lives in London, in an apartment he acquired from the Rothschild family in 2003 for $10 million.

"I will have a four-room apartment at the orphan's home, whereas at Sea and Sun I have small, two-room apartments" relates Shamoon.

The orphan's home will be marble faced, and the ceilings of the entrance floor will be decorated by a well-known Portuguese painter who came to Israel especially for the project. "It's so the children won't be ashamed to invite friends over," explains Shamoon.