The Company respectfully announces that on April 29, 2015 the Company was informed that a subsidiary completely controlled by the Company, won an Israel Land Authority Tender for purchasing two plots with a total area of 3,796 square meters in Ra'anana (for constructing 86 residential units and approx. 900 square meters of commercial areas) in consideration for approx. 72M NIS (including development costs). The Company foresees that establishing the potential project on the said real estate, might generate an income turnover of approx. 190M NIS (excluding VAT) for the Company along the project's lifetime.