In an advance sales event held by Shikun & Binui Holdings Ltd. (TASE: SKBN) last Friday, the company sold 46 apartments in its "Halomot TLV" ("TLV Dreams") project in the Yad Eliyahu neighborhood in south Tel Aviv within three-quarters of an hour.
The project comprises two apartment buildings in Yiftah Street due to undergo renovation under National Outline Plan 38a (Tama 38a) for reinforcing buildings to withstand earthquakes and adding two-and-a-half floors. At present, the two buildings on the site contain 32 rental apartments, all except one owned by Shikun & Binui Holdings. After the renovation, there will be 57 apartments.
Most of the apartments in the project have five rooms and a balcony. There are also garden apartments and penthouses with four rooms and large terraces.
Prices for the smallest five-room apartments in the project started at NIS 2.4 million, including parking in a robotic car park. Because of the demand, the company sold the apartments at a special sales event by drawing names of buyers arbitrarily, and thereby deciding the order in which they will occupy the apartments.
After the event, eleven apartments in the project remain for sale: one penthouse and ten five-room apartments, some 118 square meters with 10 square meter balconies, and the rest 126 square meters with 13 square meter balconies.
According to figures recently released by the Ministry of Finance, some 30,000 apartments were purchased in the first quarter of 2016, 6% more than in the previous quarter, but 6% fewer than in the first quarter of 2015.
Published by Globes [online], Israel business news - www.globes-online.com - on July 10, 2016
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