The Finance Ministry and Israel Land Authority published Wednesday a buyers price tender in Ra’anana. The tender calls for the construction of 104 residential units in the Neve Zemer neighborhood in the city’s northern section.
The tender is split into three separate complexes with 23, 62, and 19 units. One fifth of the apartments in the project will be allocated to Ra’anana residents. Neve Zemer is a new neighborhood under construction in the city’s northern section, the first in many years. It is expected to include more than 3,400 housing units in total with prices in the new neighborhood starting at more than NIS 2 million.
The buyers price units in Ra’anana, therefore, are not expected to be priced as low as in the other tenders offered until now. The maximum price for the tender has yet to be published, nor has the information packet, meaning it remains unknown what the government appraiser set as the maximum price and the likely price per meter over which developers and contracts will compete.
All bids for the tender must be submitted by March 14, 2016.
The Ra’anana municipality said, “The allotment of units specifically in the Neve Zemer neighborhood, which is considered an especially high-quality area, is part of an approach to planning by which we build a mix of apartments in each neighborhood which is appropriate to various demographics and to a wide-range of ages.”
Ra’anana’s Deputy and Interim Mayor Eitan Ginzburg, who also chairs the planning and building committee, said: “It is foremost on our minds to retain the youth of this city. I am glad that young people from Ra’anana and all over Israel will be able to purchase apartments here for discounted prices. There is no doubt the integration between the city’s high-tech area, “challenge city”, and the young population moving to the Neve Zamir neighborhood, will take the city forward to new heights.
“The building of the apartments, with some set aside for the boys and girls of this city, is a blessing for residents and specifically for the youth and young families."
Published by Globes [online], Israel business news - www.globes-online.com - on December 31, 2015
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