A third party signed an agreement to acquire 17 dunams property in Kiryat Arie from AFCON Holdings Ltd. (TASE:AFHL) on April 4, 2016. Under the second agreement with the buyer, AFCON Holdings committed to construct a building with a turn key project method in the area. The total consideration for both agreements is ILS 440 million. As on December 7, 2016, AFCON Holdings has received approval from the Israeli Land Authority. The transaction is expected to be completed in the forthcoming days. A third party cancelled the acquisition of 17 dunams property in Kiryat Arie from AFCON Holdings Ltd. (TASE:AFHL) on April 4, 2017.