In collaboration with Contempo
The increase in interest rates does not affect housing prices in Tel Aviv, nor does the dwindling supply of projects.
These are the conditions that opened up the opportunity for Contempo Real Estate to build prestigious projects in prime locations in the city. This is an important strategic decision by the company, the results of which are evident every day in the marketing process, when housing prices in the city already reach NIS 80,000 per square meter.
"Contempo Real Estate made a strategic decision to make Tel Aviv the center of its activity," explains the owner, Shahar Raz, "This is due to the continuous integration of the city as a center of business, culture, art, cuisine and community, which together produce a vibrant and diverse life 24/7.
Despite the increase in housing prices in the city, we notice high demand that is reflected in the early stages of sales, even before we go to marketing."
Contempo Real Estate, founded by the entrepreneur Shahar Raz, is one of the veterans in the field of urban renewal and is at the top of the BDI and D&B rankings. The company leads urban renewal in the Gush Dan metropolis and currently promotes dozens of projects worth billions of shekels in Tel Aviv, Ramat Gan, Givatayim, Ramat Hasharon , in Hod Hasharon, in Herzliya, in Ra'anana, in Kfar Saba and in Bat Yam with the scope of construction of more than 2,500 housing units in various stages of planning, marketing, construction and occupancy.
Yarkon Tel Aviv, Doron Sahar drone
High accessibility to public transport
"We choose projects in old areas that sit on main transportation arteries and are close to the light rail and the metro. They are the ones that make the projects attractive," Raz says, "The connection between transportation and real estate is clear.
When I look at the year 2040, the main tool that will affect the country, the place, the nature of the apartments in which we will live, the places of work and recreation and the nature of the consumption culture - is the metro.
The impact on the residential apartment market will be unprecedented.
The apartments that will be planned along the metro axis will be unique and small, usually without parking and will be built in mixed-use buildings.
There it would be worthwhile to settle down and invest.
The same goes for neighborhoods bordering the route of mass transit systems or places where there are plans for a future transit system, in which the market has not yet assimilated the potential."
In Tel Aviv, Contempo Real Estate is promoting a number of projects, most of which are located just a few hundred meters from the metro or mass transit system. Among the company's projects, we can mention Yehuda Maccabi YH32, which will be built in place of three buildings with 33 housing units in an area of approximately 2,200 square meters that will be demolished As part of TMA 38/2. Their place will be taken by two iconic buildings that will include 64 housing units, with garden apartments and penthouses.
Yehuda Maccabi is the flagship project of Contempo Real Estate and is located in the good old north of Tel Aviv, at the intersection of Yehuda Maccabi and Weizman streets. The project is planned adjacent to the Nordeau station of the green line of the light rail, alongside high accessibility to public transportation routes and educational institutions. The project Considers, among other things, today's living environment and therefore includes private and shared work spaces on the roof of the buildings, a quiet and pastoral collaborative garden, spaces on the roofs that include relaxation corners, yoga and pilates workshops overlooking the skyline, a leisure club for children with the possibility of screening movies in the summer, rooms Wine and underground parking.
Shahar Raz
Photography: Itzik Biran,
A building permit was recently received and the project is expected to go on the ground in March of this year.
The project received support from the Bank of Jerusalem and recently a quarter of the apartments were sold in the presale phase - the last of them for around NIS 75,000 per square meter.
With a view of the sea, next to the entertainment centers
Another project of the company is Shlomzion HaMalka 6 and Yohanan Hopsi 5. This is a quiet and quality area in the old north of Tel Aviv, between Madinah Square and the Yarkon River.
The project sits on an area of one dunam and includes the demolition of two existing buildings that include 25 housing units and the construction of two new buildings with 40 units, one of which will face the park and the other the Milan Square.
The project is located a few minutes' walk from the Nordau station of the green line, close to educational, cultural and leisure institutions with access to public transportation close to the coastal road and Ayalon routes.
It will include small apartments with areas of 46 square meters, 55 square meters and 90 square meters, in addition to mini-penthouse and penthouse apartments located in the upper floor and benefiting from four air directions.
The project is expected to receive a building permit in the coming month, with an expected to go on the ground in May.
The lending bank is the Bank of Jerusalem.
The company has not yet launched a presale, but has received offers to purchase three apartments at a price of approximately NIS 80,000 per square meter.
Matmon HaCohen 3 is another project of the Contempo Real Estate Company (51%) in collaboration with the Schlain Group (49%) located about ten minutes' walk from the Arlozorov station - the largest station of the light rail, on the street at a crossroads near the 2000 terminal and the Svidor train station Tel Aviv.
As part of the project, a seven-story modern building will be built that includes 25 designed units, spacious garden apartments and a penthouse overlooking the sea.
The project is located about 200 meters from the State Square and includes all the necessary entertainment and education centers.
On the one hand, a pastoral and green atmosphere with kindergartens, the Herzliya Gymnasium and the Ichilov Hospital, and on the other hand, the most important entertainment and cultural centers in the country, prestigious fashion stores and a breathtaking urban landscape.
The Bank of Jerusalem is accompanying the project that will go on the ground this April, and to date the companies have completed sales of approximately half of the apartments.
Another project of the company is located at 152 Yarakon Street, between the Colosseum and the Harrods Hotel and includes the demolition of 10 units within the framework of TMA 38/2 and the construction of 17 units in their place. The project is located in the prestigious area of Tel Aviv, near the hotels on the axis of Atarim Square and Gordon Beach, within walking distance of Ben Gurion Blvd., and will include particularly luxurious apartments with a first-line view of the sea, without fear of blocking the view in the future. The apartment on the first floor is also expected to enjoy a view of the sea since the ground floor is located above the water level.
Matmon HaCohen 3, Omri Ron Architects.
Visualization: Alex Lubimov,
Who said the housing market is slowing down?
"Despite all the headlines about a slowdown - people are buying and looking for luxury, at prices ranging from NIS 80,000 per square meter in the sea to NIS 120,000 per square meter on the first line to the sea," explains Raz, "in Tel Aviv the supply of apartments is not large, so when a project comes out, there are a lot of interested people. The strategic idea is to operate in Gush Dan, but the company's hardcore activity takes place in Tel Aviv, with an emphasis on TAMA and construction evacuation programs.
These plans will continue to be the engine of real estate in Israel, and therefore we are there mainly on the axis of the light rail, where most of the demand is."
Another prime project by Contempo Real Estate will be implemented at the corner of 95-97 Ibn Gvirol and Arlozorov streets, adjacent to the light rail station shared with the green and purple lines that are expected to open in 2027. The company is promoting the project in partnership (85%) with a former Tel Aviv municipality engineer, Oded Gaboli (15%). As part of the project, two buildings containing commerce and 33 existing units will be demolished and in their place a 7-story building with 75 units will be built, combining commerce and gallery space. The apartments will be built in a diverse mix - from micro apartments to duplexes and penthouse apartments luxury
At 51-53 Bar Kochba Street, the company is promoting a project that will include the demolition of two buildings with 16 apartments in an area of about a dunam, and the construction of a building with 36 apartments.
The project is located in the heart of the pulsating heart of Tel Aviv, a short walk from Dizengoff Square and Bogarshov Beach and will include 3 and 4 room apartments, garden apartments and penthouses.
On Grozenberg Street 8 and 8A in Tel Aviv, the company is promoting another TMA 38-2 project which includes the demolition of 20 units and the construction of 36 new apartments in their place.
The project is being built on an area of 869 square meters below Calvo Shalom, next to the Neve Tzedek neighborhood in Tel Aviv and about 150 meters from Rothschild Street, and will include regular apartments, garden apartments and a penthouse.
In collaboration with Contempo