Gindi Holdings Nears Sellout at Sde Dov Project Amid Surging Prices
Gindi Holdings has nearly sold out its VOGUE project in Sde Dov, with 680 out of 708 apartments contracted. Despite an initial promotional campaign offering 49,000 NIS per square meter, actual prices surged by nearly 37% for remaining specialty units.
In June 2025, Gindi Holdings shook the Israeli real estate market by announcing a steep price cut at its flagship VOGUE project in Sde Dov. While rival contractors were marketing units at 90,000 NIS per square meter and above, Gindi offered apartments at 49,000 NIS per square meter, sparking a broader debate over a potential market stagnation.
Despite initial industry backlash, the aggressive pricing strategy accelerated sales significantly. While the headline figure attracted immense attention, the actual average selling price settled above 60,000 NIS per square meter, compared to 70,000 to 73,000 NIS per square meter charged by competing developers in the same neighborhood. Furthermore, investigations revealed that some buyers attempted to flip their contracts on secondary listing platforms to secure quick profits.
Recent data shows that out of 708 total units in the project, binding sales contracts have been signed for 680 apartments, leaving only 28 units remaining, some of which are currently held under active purchase options. Among the remaining inventory are 12 specialty properties, including mini-penthouses and duplexes, with actual prices ranging between 67,000 and 80,000 NIS per square meter depending on specifications.
Compared to the initial promotional baseline, remaining and luxury units reflect a price increase of nearly 37%. Over the past two months alone, an additional eight residential units were sold. Executive Business Manager Asaf Adler noted that excavation and construction work on the project is slated to begin within the next two months, expressing strong confidence in Sde Dov's long-term growth potential and high property appreciation value.
