The Israel Land Authority has released a new tender for the construction of 27 detached houses in the "Nof Hashot" neighborhood in Kadima-Zoran. The tender includes 13 lots designated for low-rise construction, situated in the southwestern part of the settlement. Covering an area of approximately 63 hectares, the plan aims to provide affordable housing options.
What makes this tender particularly interesting is the minimum price set for the lots in Kadima-Zoran. The price for the construction of two housing units starts at a mere NIS 1.7-1.9 million (about half a million dollars). Even after factoring in development expenses, the cost comes out to be approximately NIS 2.8 million per land area for two housing units. This price is significantly lower than the average in the Israeli real estate market.
The ultimate price will be determined at auction, but there is no doubt that this tender presents a high potential for entrepreneurs. However, the big question remains: if the final price is also lower than the average, how will it affect the final price for buyers?
The plots, ranging from approximately 440 to 800 square meters each, are designated for the construction of 1-3 units per plot. They are located in the northwestern part of the neighborhood, near public buildings.
The overall plan includes a residential neighborhood of approximately 1,380 apartments, with a mix of small apartments and sheltered housing for individuals and couples. The plan also emphasizes the integration of public institutions, open public spaces, and a diverse range of residential streets.
Keren Green, head of the Kadima Zoran Council, expressed excitement about the development, describing it as a flagship neighborhood with advanced education and cultural institutions. This new neighborhood aims to maintain the rural character of Kadima Zoran while providing high-quality housing options that make residents feel at home.
The deadline for submitting proposals is 12/31/2023 at 12 noon. Bidders must keep up to date on the Israel Lands Authority website for any changes to the tender until its closing date. Participation in the tender requires prior registration on the "Government Zemin" website.