Israeli Firm Buys Land in Beit Shemesh for Mixed-Use Development

The I.S.A. Group, co-owned by Akiva Zurivin and Shalom Griva, has entered into an agreement to acquire approximately 7.8 dunams (about 1.9 acres) of land in Beit Shemesh for NIS 105 million plus VAT. The company is partnering with a strategic investor in this acquisition.

The purchased land is slated for a modern, mixed-use complex spanning approximately 75,500 square meters. This development is planned to include residential units, commercial spaces, employment areas, and a protected housing facility for seniors. The project is in advanced planning stages, nearing approval from the National Planning and Building Council.

This marks the third project for the I.S.A. Group in Beit Shemesh. The company has previously developed around 600 housing units in the city and is currently working on another project that will add approximately 400 more units. The acquisition is seen as a strategic growth move, expanding the group's operations into new sectors, particularly protected housing.

Akiva Zurivin, Chairman and co-owner of I.S.A. Group, stated that the deal, made with a partner specializing in protected housing, is a strategic growth engine. He emphasized the significant land reserve's strategic location in a growing city that requires adequate solutions for senior housing. Zurivin added that the group aims to create a modern complex integrating housing, employment, and quality senior living, offering a sound planning and economic solution for the area.