This is the new project that cost Ampa Israel NIS 77 million

This is the new project that cost Ampa Israel NIS 77 million
This is the new project that cost Ampa Israel NIS 77 million
Ampa Rehovot Project (viewpoint photography)

Are land prices in areas of demand cooling? Ampa Israel won the land for the construction of 35 housing units in the Galilee. After bidding between several companies, the price of NIS 77 million for land was closed, reflecting a price of NIS 2.2 million per unit of land before VAT. To land per unit, in a similar procedure. The price of the land indicates that the prices of apartments in the project are expected to start at at least NIS 4 million.

The plot on which the bidding was done as part of a joint liquidation procedure was sold through the receivers, Shmuel Glinka, Roi Haram and Hadar Tal. The nearby lot is purchased by Gil Kata, entrepreneur Hani Horowitz, Mizrahi and Sons, and the Zagdon company.

Ampa Israel is an entrepreneurial company that promotes and leads the implementation of a wide range of projects throughout Israel with over 3,000 housing units under construction in the demand areas and the periphery – in Rehovot, where it recently purchased a plot for 324 housing units and commercial areas in advanced marketing and execution, and recently acquired a division Land in Bat Yam – where the company is promoting a project that also combines a mix of residential and commercial uses and is in advanced planning stages, along with other projects initiated and promoted by the company in Ashkelon, Herzliya, Yokneam, Atlit, Nofim, Baruchin.

In addition to this activity, the company is leading the construction of residential neighborhoods in kibbutzim that combine infrastructure and private homes, such as Kibbutz HaOgen, Shefayim Revadim, and a number of kibbutzim in the north of the country. Ampa Israel is part of the Ampa Group, which is controlled by the Nakash brothers and the Fogel Group. Ampa Israel was represented in the transaction by Adv. Kalanit Bar, a partner in the firm of Pargan Peles & Co.

According to Eli Agam The CEO of Ampa Israel, “The project planned on the site joins a series of other projects that the company is promoting in Herzliya and as part of the company’s strategy to expand its activities in the area, and reflects expected sales prices of over NIS 4.5 million per unit.”

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