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Economy21:00 · Sep 8

Israel Land Authority Approves 66 New Housing Units in Herzliya

Translated & summarized from Mignews by baba
The story · English

The Israel Land Authority has announced the results of an initiative tender for the development of a plot in the Nove Israel neighborhood of Herzliya. Eight companies submitted bids for the project, which aims to construct 66 housing units along with commercial spaces through intensive development. The winning bidder will pay approximately 42 million shekels for the land, excluding VAT and infrastructure development costs.

Officials stated that the number of housing units is a potential urban development plan, contingent on the final approval of project documentation. The plot, spanning about 2.4 dunams, is designated for residential use as part of urban renewal and regeneration efforts within the historically established Nove Israel neighborhood.

This neighborhood, located in central Herzliya, is currently undergoing significant urban renovation. The tender agreement requires the winning company to independently manage the planning and development of the complex in coordination with municipal authorities and planners.

Read the original at Mignews
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