Raysdor Wins Tender for NIS 900 Million Development Project in Elad

Raysdor, a company owned by businessman Yaki Reissner, has won a new tender from the Israel Land Authority in the city of Elad. The company plans to connect the newly acquired plot to two adjacent plots it already owns, creating a combined site for a development project estimated at NIS 900 million.

The new plot spans approximately 7,543 square meters and is designated for employment and commercial spaces. Raysdor will pay approximately NIS 26.8 million plus VAT for the land lease rights and will also cover development costs of around NIS 8.9 million. The plot has building rights for approximately 60,000 square meters of employment space and an additional 1,697 square meters for commerce.

This new plot is adjacent to plots 502 and 503, already owned by Raysdor. Combining the three plots will allow the company to develop a single complex on a total area of about 18 dunams (approximately 4.5 acres). The company's plan includes building a logistics center alongside office and commercial spaces.

The complex is strategically located near Highway 6, providing convenient access to one of Israel's main transportation arteries, which is particularly beneficial for logistics centers requiring easy truck access and quick connections to intercity roads. However, the project is still in its early stages, and Raysdor must still obtain the necessary approvals and building permits. The project's scope and timeline are contingent on the completion of planning and licensing procedures.

Yaki Reissner, Chairman and Owner of Raysdor, stated that the acquisition allows for significant expansion in Elad and the consolidation of their landholdings into one complex. He highlighted the project's location near Highway 6 as a key advantage, enhancing its potential. Reissner added that the integration of logistics, employment, and commerce will enable a large-scale project and that the company will continue seeking opportunities for expansion.