Almogim

Real estate developer Almogim has received a building permit for 68 apartments in Rishon LeZion. Due to bureaucratic delays, buyers will be eligible to sell their subsidized units immediately upon completion in 2029.

The slowdown in sales and rising construction costs are pressuring residential developers. Almogim has sold 54 units in its Rehovot project to the Magurit REIT fund, expecting a loss of 6–7 million shekels.

Almogim Holdings reported strong sales for the first half of 2026, selling 111 apartments. The majority of these transactions were supported by financing incentives, including contractor loans. The average apartment price stood at 2.65 million NIS.