Haggag Real Estate Reports Slight Rise in Q2 Apartment Sales

Haggag Real Estate concluded the second quarter of 2026 with a modest increase in apartment sales, selling a total of 68 units. This represents a 4.6% rise from the 65 units sold in the first quarter.

In the significant Sde Dov project, nine apartments were sold in Q2, a 60.9% decrease from the previous quarter's 23 units. However, the average price per apartment increased by 3.2% to NIS 6.5 million, up from NIS 6.3 million in Q1. Haggag still has 179 apartments, or 52% of the total, available for sale in this project.

Another key project, Sumeil, saw no apartment sales during the quarter, though 78% of the project has been marketed, with approximately 60 units remaining. The Masterpiece Bavli project experienced a surge in sales, with 17 units sold, a 466.7% increase from the three units sold in Q1. To date, 88 units have been sold in Masterpiece Bavli, leaving 159 available.

Sales were also recorded in the Shadal project with 13 units sold. Conversely, no apartments were sold in the Epstein 7, Zohar 5, and Salama Moma projects during the quarter. The company also reported an additional 30 apartment sales after the reporting period.

Haggag noted a significant reduction in sales under favorable financing terms, such as "20/80" deals, which accounted for NIS 23 million of the NIS 646 million in sales year-to-date. Sales under traditional linear payment plans constituted NIS 626 million, approximately 96% of total sales.

In April 2026, Haggag acquired a 50% stake in Tzim Real Estate, now Haggag Tzim Real Estate, and holds a majority of its voting rights. Sales from Tzim Real Estate projects contributed nine units, about 13% of Haggag's Q2 sales.

Haggag's revenue for Q2 decreased by 35.4% to NIS 113 million, compared to NIS 175 million in the previous quarter. Net profit, however, rose by 126.7% to NIS 34 million, up from NIS 15 million in Q1.