Discounts of $30,000 per apartment were given as part of the sales campaign.
Brothers Moshe and Yigal Gindi last month sold 24 apartments in the Kiryat Rabin neighborhood in Holon, in a first-of-a-kind sales campaign in cooperation with Visa Cal. Proceeds from the sales totaled $6 million.
Discounts of $30,000 per apartment were given as part of the sales campaign. Buyers pay for the apartments with Visa Cal credit cards, with flexible, convenient installments at a 6.5% interest rate. This is considerably lower than the regular interest rate the company charges for installment payments. The buyers also get credited with points, which they can use to acquire presents, or convert into El Al’s frequent flyer program.
The pre-discount price of the apartments are from $240,000 for four-rooms, $270,000 for five-rooms, and $360,000 for 230 sq.m. penthouses.
The project covers 328 apartments, for a total of $88 million. The Gindi brothers are initially constructing 174 apartments and have so far sold 105. They bought the land two years ago from the Dankner group for $18.5 million. Bank Hapoalim is providing financial coverage.
Published by Israel's Business Arena on 28 October, 2001