Hagag sold 68 apartments in the second quarter; price in Sde Dov project rose

Hagag Real Estate finished the second quarter of 2026 with a slight increase in the number of apartments sold. In total, the company sold 68 apartments during the quarter, an increase of 4.6% compared to the 65 apartments sold in the first quarter of the year.

In the Sde Dov project, one of the company's material projects, nine apartments were sold in the second quarter, a decrease of 60.9% compared to 23 apartments in the previous quarter, but the price per apartment rose by 3.2% to 6.5 million shekels, compared to 6.3 million shekels in the first quarter. The company has 179 apartments left for sale in the project, which is 52% of all apartments in it. In the Sumail project, another material project of Hagag, no apartments were sold during the quarter. The company has marketed about 50 apartments so far, representing 45% of the total apartments in the project, and has 61 additional apartments left to market. In the Masterpiece Bavli project, 17 apartments were sold, an increase of 466.7% compared to three apartments in the previous quarter. In total, the company has sold 88 apartments in the project so far, and has 159 apartments left for sale. In the Sdal project, 13 apartments were sold. In contrast, in the Epstein 7 and Zohar 5 projects, as well as in the Salame Momah project, no apartments were sold during the quarter. The company also reported 30 additional apartments sold after the report date.

Hagag noted that they have significantly reduced the volume of sales under favorable financing conditions. Out of sales totaling approximately 646 million shekels from the beginning of the year until the report publication date, the volume of sales under these conditions, including 20/80 promotions, amounted to 23 million shekels. Sales under linear payment plans, as was customary in the past, amounted according to the company to 626 million shekels, about 96% of total sales.

In April 2026, Hagag acquired 50% of Zim Real Estate, now called Hagag Zim Real Estate, and it holds the majority of voting rights in the company. The report shows that in Zim Real Estate projects, nine apartments have been sold so far, which accounted for about 13% of the total apartments sold during the quarter. Hagag's revenues decreased by 35.4% to 113 million shekels in the second quarter, compared to 175 million shekels in the previous quarter, and net profit amounted to 34 million shekels, an increase of 126.7% compared to 15 million shekels in the previous quarter.