One million shekels at the entrance: Hagag's sales campaign at the Infinity Tower in Tel Aviv
America Israel enters into a partnership with Av-Gad in an urban renewal project in Ramat Gan. Hachshara Urban Renewal signed a 1.2 billion shekel financing agreement for a project in Kiryat Yam. The National Planning and Building Council approved two additional complexes in Haifa Bay. The Registrar of Contractors revoked the licenses of five contractors. Weekly real estate news.
Sales
One million shekels at the entrance, and the balance in 3 years: Hagag's sales campaign at the Infinity Tower in Tel Aviv
Competition for apartment buyers remains high, and developers are offering flexible payment terms to stimulate transactions. The Hagag Group has announced a new campaign at the Infinity Tower in Tel Aviv, located at the intersection of Ibn Gvirol and Jabotinsky streets, near Kikar HaMedina. Occupancy is expected within the coming year.
Under the campaign, buyers pay one million shekels upon signing, allowing them to move in without a mortgage. The balance is paid three years after occupancy, interest-free and without linkage. For investors, Hagag guarantees rental income for the first two years with a double-digit yield (24%-52%) on the initial payment. For example, a 70-sqm two-room apartment guarantees at least 10,000 shekels per month, totaling 240,000 shekels over two years.
The project, executed by Electra Construction and designed by Prof. Moshe Zur, includes a 52-story tower and a seven-story building (278 units total). Over 200 apartments have already been sold. The campaign features 30 units (2-5 rooms) starting at 60,000 shekels per sqm, representing a 10%-15% discount.
Transactions
America Israel partners with Av-Gad for Ramat Gan urban renewal
America Israel is partnering with Av-Gad on an urban renewal project in Krinitzi, Ramat Gan, valued at approximately 21 million shekels. The project involves demolishing 63 existing units to build 300 new ones, plus commercial space. Av-Gad retains a 51% stake and joint management. Alon Stauber, co-CEO of America Israel, stated that the firm focuses on mature projects to shorten development timelines.
Regulation
Registrar of Contractors revokes five licenses
The Registrar of Contractors at the Ministry of Construction and Housing has revoked the licenses of five companies: A.K. Abu Shahin Earthworks and Trade Ltd., Shwarzberg Mordechai, Issa Marom Manpower and Security Ltd., Arminia Construction Ltd., and Lumko Group Entrepreneurship and Construction Ltd. The move follows findings that the engineering professionals required for licensure were not actually employed by these firms.
Financing
Hachshara Urban Renewal secures 1.2 billion shekels for Kiryat Yam project
Hachsharat HaYishuv Urban Renewal (Nimrodi Group) has signed a financing agreement for the "Ir Galim" project in Kiryat Yam. Ruby Capital, in cooperation with Shlomo Insurance and Ayalon Insurance, will provide credit lines and guarantees totaling 1.2 billion shekels. The project will replace six 1960s-era buildings with 12 new structures containing 1,450 housing units.
Planning
National Council approves two additional Haifa Bay complexes
The National Planning and Building Council has approved environmental impact report guidelines for complexes 3 and 4 of the "Shaar HaMifratz" program (TAMA 75) in Haifa. The program aims to transform the area into a massive residential and commercial hub. Implementation remains a long-term goal, contingent upon the relocation of existing industrial facilities and land decontamination.
