Aura Sells 431 Apartments in Q3 Driven by Referral Program

Aura, controlled by Yaakov Atrakchi, reported a significant surge in apartment sales for the third quarter of the year, selling a total of 431 units. This figure surpasses the 291 apartments sold in the entire second half of the previous year. Year-to-date, Aura has sold 722 apartments, and Atrakchi anticipates closing the year with approximately 1,000 sales.

The company's impressive performance in Q3 is largely attributed to its "Refer a Friend" campaign launched in August. This promotion, which included five of Aura's sites in Ofakim, Hadera, Kiryat Ono, Ramat Gan, and Ramat Hasharon, accounted for 344 apartment sales, representing about 80% of the quarter's total.

Ofakim led the sales within the campaign, with 137 apartments sold across three sites. Hadera followed with 82 units, Kiryat Ono with 56, Ramat Hasharon with 48, and a project in Ramat Hen, Ramat Gan, sold 21 apartments.

Sales outside the promotional sites were less robust, totaling 87 units. In eight locations, including Bat Yam, three sites in Tel Aviv, two in Givatayim, Lod, and Afula, no apartments were sold. Three other sites in Tiberias, Kfar Yona, and Bnei Ayish each sold only one apartment during the quarter.

Atrakchi stated that he does not believe in typical market promotions, asserting that the "Refer a Friend" campaign demonstrated that the right incentives bring buyers back to sales offices. He expressed confidence in meeting the year-end target of at least 1,000 apartment sales. Regarding underperforming projects, he noted that Tel Aviv is currently a challenging market, but sales are strong outside the Gush Dan region.