The new year has delivered its first major hi-tech real estate deal: NDS (Nasdaq, Easdaq:NNDS) is to rent property from the RAD Binat group.

The deal is estimated at $30 million, and building of the office park is due to be completed by 2004.

NDS will be renting 14,000 square meters from RAD Binat Real Estate at Har Hotzvim industrial park in Jerusalem, at $16 per square meter.

The agreement is for a 10-year period, with an option for a 10-year extension, and for an additional 1,500 square meters under the same conditions. The rented area includes 360 parking spaces for NDS Israel's employees.

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NDS provides conditional access software and interactive systems for secure delivery of entertainment and information television. PCs, and mobile devices. Its market cap is $1 billion.

RAD Binat Real Estate, owned by Yehuda and Zohar Zisapel, is one of the RAD group's 24 companies. The company specializes in construction, real estate asset management, operation and logistics. The group owns five office buildings in Tel Aviv and two office buildings in Jerusalem, totaling 150,000 square meters. The group has 3,200 workers.