Kardan Real Estate

Kardan Real Estate experienced a sharp decline in free-market apartment sales during the second quarter. While subsidized 'Target Price' projects sustained volume, the company warns of potential profit margin compression due to rising subcontractor costs and labor shortages.

Kardan Real Estate CEO Amos Dabush believes that rising construction costs, the drying up of the land market, and a lack of government management could damage the real estate sector for years. According to him, many companies will be forced to join partners to survive.