Holon Approves Massive Development Plan, Adding 10,700 Homes
The city of Holon has approved a NIS 3.1 billion development framework that includes the construction of approximately 10,700 new housing units, alongside significant investments in infrastructure, transportation, education, public facilities, and a new sports complex. The plan encompasses about 1.75 million square meters of commercial and employment space. This initiative is part of a broader strategy to accommodate Holon's projected population growth to at least 270,000 residents by 2040, up from its current 186,000.
While the municipal plan details 10,700 housing units, an agreement with the state initially accounted for 8,580 units on state land, with the difference attributed to the inclusion of additional areas and private land in the wider planning. Approximately NIS 1.1 billion is allocated for urban infrastructure and NIS 200 million for public and educational institutions.
The development targets several neighborhoods, including Kiryat Malka, Kiryat Yuval, Jese Cohen, the Ben Zvi commercial center, the agricultural farm, and the logistical rear. This expansion comes at a time when Holon's housing market, after years of price increases mirroring the wider Gush Dan region, has seen a recent stabilization, with some neighborhoods experiencing price drops. A June report indicated a weighted annual price decrease of about 3.2%, with the average apartment price around NIS 2.37 million.
Recent transaction data suggests prices per square meter are stabilizing between NIS 27,000-29,000, indicating a market that has settled after declines rather than experiencing sharp upward or downward movement. Significant price variations exist within the city, with newer apartments in central areas commanding higher prices than older ones lacking modern amenities. Older neighborhoods like Kiryat Sharet are showing slower transaction volumes and stable prices, while Neot Rachel has seen a price decrease of about 6% per square meter.
