Sharon Farshtat Company's Massive Apartment Tender Results Still Pending
Nearly a month after the opening of a large tender by Sharon Farshtat Company for low-cost apartments, the results have yet to be announced. The company reported that thousands participated in the lottery, which was part of a new policy offering broad financing benefits and contractor deals. Farshtat is expected to release a detailed announcement soon, clarifying the number of participants and sold apartments out of the 400 units offered at relatively low prices. The company invested NIS 15 million in the tender's transparent campaign, requiring a NIS 25,000 guarantee from each participant and reporting 100,000 website entries before closing.
A stock exchange report filed eight days later mentioned dividends and insider transactions but omitted any mention of the tender. This initiative highlights the pressure on developers in a market saturated with approximately 84,000 unsold new apartments, while also aiming to revitalize sales. Sources within Farshtat claim the tender results are positive, but no official announcement has been made to the stock exchange.
Real estate expert Ilan Libovich commented on the market's state, stating that Israeli consumers in 2026 are discerning and seek genuine price reductions, not just flashy slogans or celebrity endorsements. He noted that with over 84,000 vacant apartments, the public is alert and calculating, demanding real value. Libovich argued that contractors using marketing gimmicks instead of direct price cuts will continue to see buyers stay away, especially as his focus is primarily on overseas apartments.
Conversely, other companies like Aura and Hagej Group have recently reported high sales numbers from their own promotions. The key question remains whether this momentum will persist and how interest rate cuts will impact apartment buyers in the short to medium term. Yossi Farshtat, Chairman of the Board, stated that the fifth consecutive interest rate cut will stimulate the housing market by easing financing, predicting a continued increase in new apartment sales throughout the year, following a 40% rise in the second quarter.
