October 18, 2010 --Henry Taic plans to build the first Kempinski Hotel in Israel as part of the David Promenade Residences under construction on Tel Aviv's seafront.

Taic's company, Nahal Group, signed an agreement with Kempinski Hotels AG last week to establish a luxury hotel on half the eight-dunam (two-acre) lot owned by Nahal on Herbert Samuel Street in Tel Aviv near the US Embassy. The Kempinski Tel Aviv Hotel will have 220 rooms, including 50 suites, on 23 floors. It is due to open in 2013.

The Kempinski Tel Aviv Hotel will be attached by glass cube to the 25-storey David Promenade Residences, which will have 60-70 luxury apartments ranging in size from 100 square meters to 1,000-square meter duplexes. Residents will have use of the hotel's facilities.

Nahal owns the David Intercontinental Hotel in Tel Aviv, the Meridien Dead Sea Hotel, and Grand Court Hotel Jerusalem

Kempinski Hotels was founded in 1897. The luxury European chain how has 60 hotels worldwide, with 43 more planned for Europe and Asia.

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