Public Real Estate Company Sold Only One Apartment in the Quarter
The publicly traded company Aviv Bniya has sold only 4 apartments since the beginning of the year, highlighting the ongoing challenges in the construction sector. These low figures reflect the continued slowdown in the real estate market.
The second-quarter reports for the year indicate a clear slowdown in sales for Aviv Bniya: the company sold only one apartment, bringing its total sales for the first half of the year to just 4 units.
Recently, we reported that Kardan Real Estate, owned by Amos Dabush and Ayelet Shaked, sold 8 apartments during the quarter on the free market, despite holding a large inventory.
Thus, the slowdown in the real estate market continues to impact the financial reports of several companies. The extremely low sales volumes recorded in the first half of the year highlight a need for improvement, particularly considering that this period included three months without active warfare. A quarterly analysis shows that in the first quarter of 2026, the company sold 3 units, all in the "Aviv Be-Narkisim" project in Rishon LeZion. In the second quarter, the slowdown intensified, with the company reporting the sale of only one apartment in the "Tzomet Beit Lev HaIr" project in Jerusalem.
As mentioned, only 4 housing units were sold during the first six months of the year. The company notes that from the beginning of the year until the report's publication date, total sales on the free market reached 10 units.
Regarding projects where construction is complete: in the "Tzomet Beit Lev HaIr" project (building 1) in Jerusalem, no sales were recorded during the first six months, though one apartment was sold after the reporting period ended. In the projects in Beit Shemesh (130 units) and Budapest, Hungary (stage A), no sales were recorded at all.
In the company's core projects, sales have not yet begun. These include "Aviv in Be'er Ya'akov" (210 units), "Aviv in Kiryat Gat" (218 units), and "Aviv in Havatzelet" in Netanya (136 units) — no sales were recorded as marketing has not yet commenced. The first two projects are in the early stages of construction, and the Netanya project is still in the planning phase.
It is important to note that Aviv Bniya's inventory is significantly smaller compared to companies holding assets worth hundreds of millions. Expected revenue from all apartments is projected at 112 million shekels, with a gross profit of only about 21 million shekels.
