Monday, 30 May 2016
Last updated 2 days ago
Feb 27 2012 | 3:58am ET
Brevan Howard Asset Management founder Alan Howard plans to be living large in Israel—larger, indeed, than anybody else in the country.
Howard, who in 2010 moved from London to Geneva to escape the U.K.'s new top tax rate, is planning the largest private residence in Israel. The massive 20,000-square-foot estate (consisting of a 12,000 square foot house and an 8,000 square foot guest house) is already under construction in the city of Herzliya, just north of Tel Aviv, in the beachfront Pituach neighborhood, one of Israel's poshest.
According to the Yedioth Ahronoth newspaper, the estate will cost about US$100 million, but a source familiar with the matter told FINalternatives it will actually cost "less than half" that amount. The hedge fund billionaire's plot, purchased in 2006, is the largest in Herzliya.