The following article was published originally in November 2023. We are sharing it now for your perusal, but take into account that the following information may be outdated.
Aura has won another housing tender in Kiryat Yam and will build a new neighborhood by the sea. The complex joins two adjacent compounds already won by the company. Yaakov Atrakchi, owner and CEO of Aura, said, "A one-time opportunity to live by the sea."
Aura will establish an urban residential complex, large and unique, with over 1,300 housing units and commercial areas on the first line to the sea in Kiryat Yam. The company won another housing tender on Yosef Tel Street, adjacent to the seafront of Kiryat Yam. The complex joins two adjacent compounds already won by Aura. All three complexes are located in a TAMA planned by the Israel Land Authority, have been deposited, and are under discussion for objections before being approved in the coming months. Objections filed may lead to an increase in the number of new housing units for marketing.
As part of the winning bid, 136 existing housing units are expected to be demolished, to be replaced by 540 new housing units on Yosef Tel Street. The company won two additional compounds on the street, including the construction of 774 housing units, of which 582 units will be marketed by the company, so that all three compounds will become a large and significant project, in which 328 old housing units will be vacated and over 1,300 new housing units and commercial areas will be built. The company has hired Moshe Tzur, one of the leading architects in the country, to promote and plan the neighborhood. Aura is beginning the permit process and expects marketing to begin in the first half of 2025.
Yaakov Atrakchi, owner and CEO of Aura, said, "This is one of the most attractive complexes in the country, adjacent to the unique coastal strip of Kiryat Yam, on the first line to the water. We intend to promote a quality project, at a high planning level, and to attract strong populations to the city, also from the center of the country, who will enjoy a one-time opportunity to live by the sea. This significant and high-quality project joins numerous residential neighborhoods of urban renewal projects that the company intends to implement in the years 2024-2025, supporting the company's continued growth and its activity volumes."