The Reality Fund won a tender for the purchase of land in Holon, in a bidding process as part of a joint liquidation procedure, for NIS 74 million. The land, which covers an area of 10 dunams, is located on Merkava Street in the Holon industrial area.
According to the construction plan for the city that began on the complex, about 36,000 square meters can be built on the plot for employment and commercial construction on a 20-story ground floor. Mixing uses in accordance with the new master plan promoted for the city of Holon.
Dan Menachem, a partner in the Reality Fund, explains that the purchase of an employment complex now is seemingly non-trivial and nevertheless makes sense: “Every plot or real estate property should look at the special characteristics of the property.” What we really like about this lot is the size. It is not too big or small.
“Besides, it has visibility from Highway 4 and the entrance to the central employment area of Holon. We are players for the longer term and we intend to promote a new master plan that will increase construction percentages and change the construction mix.” uses.
He further adds that the location of the lot near the future metro station is a significant advantage: “All the employment areas that are near the train stations will have demand over time, because that is where the market goes.”
The Reality Fund was founded in 2008 and manages 4 funds that specialize in real estate improvement in Israel, the last of which was established in 2019 and raised NIS 1.5 billion. The group manages assets totaling NIS 5.5 billion.