Land prices in Harish have jumped 33% in three months. NGO Harish Shelanu, managed by Biemuna - Trusts & Charities Management Company Ltd. won a tender for a lot zoned for 51 apartments, paying NIS 2.55 million, or NIS 132,000 per land per apartment, including development costs. According to the Israel Land Authority website, the assessor valued the lot at just NIS 307,000.
In August, the tender for a similar lot in Harish, zoned for 64 apartments, was closed at NIS 1.55 million, or NIS 99,000 per land per apartment.
Biemuna said that a four-room apartment in the project will cost NIS 685,000, 2.2% more than the NIS 670,000 that the company sold four-room apartments in previous projects in the town. The company is also selling commercial space for NIS 19,500 per square meter, not including VAT.
"Biemuna believes in the projects that will be built in Harish, which is why it is investing in them and will continue to invest in future projects and tenders," said Beimuna VP Ronen Weil. "Harish is going to be big, with 20,000 residents within three years and 50,000 residents in the long term."
With this tender win, Biemuna is managing five NGOs which are building 1,000 apartments in Harish. The company also won a tender to build 2,000 square meters of commercial space.
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2013
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