Bonei Hazafon will build 292 houses in the Western Galilee, in joint transactions with kibbutzim Gesher HaZiv and Regba, paying $65 million. The transactions are based on Israel Lands Administration Board Resolution 737. The transactions are among the largest ever implemented under the resolution.
In Gesher HaZiv, the plan is to build 200 150 sq.m. houses on 500 sq.m. plots on the kibbutz grounds. The buyers will pay the kibbutz $30,000 for infrastructure, and pay Bonei Hazafon for construction services. The houses will be 100-113 sq.m., plus a second 40 sq.m. storey in shell condition, and will be sold for $185,000-195,000 each. Completed units will be sold for $230,000-240,000. Unusually, the buyers will not pay the ILA anything, because the kibbutz is north of Nahariya, in the area defined as the confrontation line. Marketing will begin in a month. Bank Leumi is providing financial coverage. Bonei Hazafon will build the project in eight stages of 25 houses each, based on demand.
In the Regba deal, 92 130-190 sq.m. houses on 500 sq.m. plots will be built. Buyers will pay the kibbutz $37,000, the ILA $25,000, and will purchase construction services from Bonei Hazafon. The houses will cost $245,000-315,000, based on size. Bonei Hazafon has already sold 12 houses, Bank Leumi is providing financial coverage.
Published by Israel's Business Arena on 12 August 2001