Israeli Company Acquires 7.8 Dunams in Beit Shemesh for 105 Million Shekels
The I.S.A Group, alongside a strategic partner, has acquired 7.8 dunams of land in Beit Shemesh. The site is slated for a 75,500-square-meter mixed-use complex featuring residential units, retail space, offices, and an assisted living facility.
The real estate company owned by Akiva Zoribin and Shalom Griba has completed an intriguing deal: signing an agreement with a strategic partner to acquire approximately 7.8 dunams of land in Beit Shemesh. The site is planned for a modern mixed-use complex of approximately 75,500 square meters, which will include residential, commercial, employment, and assisted living spaces.
Strategic Expansion and Advanced Planning
The I.S.A Group reports another significant step in its investment portfolio. The company entered into an agreement to acquire leasehold rights on vacant land covering approximately 7.8 dunams in Beit Shemesh for a total of approximately 105 million shekels plus VAT. The land reserve was acquired while planning procedures are at very advanced stages, ahead of validation and prior to approval by the National Committee.
A Mixed-Use Complex of 75,500 Square Meters
According to the promoted plan (TABA), the complex is designed on a mixed-use model and offers building rights with a total cumulative scope of approximately 75,500 square meters. The plan includes 200 housing units, approximately 7,000 square meters of commercial space, approximately 6,000 square meters of employment space, as well as an assisted living complex alongside public, service, and parking areas for the benefit of the area.
The Group's Third Project in the City
For the I.S.A Group, this is the third project it is promoting in Beit Shemesh. To date, the group has initiated and built approximately 600 housing units in the city, and it is currently promoting another project in the HaMishkafayim neighborhood with a scope of approximately 400 additional housing units.
Akiva Zoribin, Chairman and co-owner of the I.S.A Group, stated that the deal alongside a partner expert in the field of assisted living constitutes a strategic growth engine that expands the scope of operations into new areas:
"This is a significant land reserve in a strategic location, in a city that is growing but needs an appropriate response for the assisted living sector. We aim to promote a modern complex that combines residential, employment, and high-quality assisted living under one roof, which creates a correct planning and economic solution for the region."
