Rotshtein Real Estate Ltd. (TASE:ROTS) entered into an agreement to acquire 5 acres land in Netanya on June 16, 2016. The purchase price for the land is of about ILS 0.34 million for each residential unit that would be constructed on the site. The total consideration will be paid within 40 days from the agreement signing date. The land has been granted approval for building about 30 residential units but the seller also has requested to expand the approval to about 125 residential units. The deal is subject to the approval to build a minimum of 100 additional residential units, eviction of intruders from the land, completion of the rights registration and approvals for the sale, among others. The pre-conditions may be completed within 23 months from the agreement. Rotshtein Realestate Ltd (TASE:ROTS) cancelled the acquisition of 5 acres land in Netanya on June 16, 2017.