Winner of tender: Shikun VeBinui will pay NIS 203m for a housing complex for rent in Tel Aviv

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Shikun VeBinui won a tender to build a long-term rental project on Derech Hashalom in Tel Aviv. This is a plot published for tender by the Israel Land Authority (RMI) and the government company Apartment for Rent and includes 164 housing units in total. The company will pay for the land about NIS 203 million including development costs. This plot is located in the old and abandoned industrial complex for many years , And some of the development expenses and payments to the Israel Land Authority also include a groundwater purification procedure at the site.

This is a tender that closed last week, which was approached by a number of companies. Among the bidders are also the companies Praszkowski and Ashtrom and the Reit Foundation of Areas – ‘Living Areas’. After submitting the bids, a bidding process was conducted between the two companies that reached the finish line – ‘Living Areas’ and Housing and Construction, and the latter bid at the end of the day for the highest bid and was declared the winner.

According to the tender documents, it was first published at the end of 2018 and has since been rejected several times and undergone changes. It should be noted that all 164 housing units planned in the tender are intended for rent, with 25% of them intended for supervised rent to those entitled to the Ministry of Construction and Housing (homeless). All apartments will be for rent for at least 20 years. The project also has a commercial facade (about 750 square meters) that the winning company can rent or sell as one piece. The plot area is a little more than 3 dunams and the construction plan allows the construction of a 23-story building.



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