Ma'ale Adumim Tender Fails as Tel Aviv and Herzliya Advance Real Estate Plans
Recent real estate tenders in Ma'ale Adumim received no bids, while Tel Aviv advanced the Beit Romano preservation plan and Herzliya approved the new UAE embassy.
Real estate tenders in Ma'ale Adumim and urban planning updates in Tel Aviv and Herzliya highlight recent developments in Israel's economy.
A land tender issued by the Israel Land Authority (ILA) for the construction of 183 housing units in the Tzipor Midbar neighborhood of Ma'ale Adumim has closed without a single offer. The land's estimated value stood at approximately 90 million NIS, with a minimum price of 10 million NIS. The tender, published in July 2026, included development expenses of about 99.6 million NIS. A previous tender for the same site in February also failed to attract bids.
Urban Planning in Tel Aviv and Herzliya
The Tel Aviv Local Planning and Building Committee has recommended that the District Committee deposit a plan for the preservation of the Beit Romano compound, transferring building rights to adjacent sites. Under the plan, Beit Romano, owned by W-Box, will transfer to municipal ownership while continuing to operate as a culture and entertainment hub. In exchange, the company will receive residential, affordable housing, employment, and commercial building rights in neighboring areas.
The new embassy project advances following the Abraham Accords and the establishment of diplomatic relations between Israel and the United Arab Emirates in 2020.
Meanwhile, the Tel Aviv District Committee has approved the plan for the permanent building of the United Arab Emirates embassy in Israel, located at 9 Sapir Street in the Herzliya Pituach business district. The plan spans approximately 2.5 dunams and includes building rights of up to 15,000 square meters in a structure rising up to 15 stories.
Energy and Financing Agreements
G City has signed a long-term agreement with an energy storage company to establish self-consumption battery storage systems across roughly ten of its properties in Israel. The first system is slated for the G City complex in Rishon LeZion, with an investment of approximately 12 million NIS and a capacity of about 20 megawatt-hours.
In the financing sector, Dankner Kenlov Urban Renewal, part of the Intergamma Group, has signed financing agreements with Gamla Harel totaling up to 46.6 million NIS. The financing is designed to supplement equity for four projects in Herzliya, Tel Aviv, and Ramat Gan, serving as an alternative to corporate bond issuance.
