W-Box has sharply accelerated sales in its luxury project in Givat Ramon, near Tel Aviv’s Park HaMesila. In the two months since late April, the developer sold 19 apartments for a total of 206 million shekels, at an average price of 95,000 shekels per square meter. That compares with just 22 apartments sold from launch through the end of the first quarter of 2026, over roughly three years.
The sales jump followed a company strategy disclosed in its latest quarterly report to step up marketing abroad. All of the apartments sold since April went to foreign residents. Notable deals included a late-April sale of a 39th-floor penthouse measuring 550 square meters plus 200 square meters of balconies for 55 million shekels to a French businessman, and a bundled sale this month of 11 units for 130 million shekels.
The project sits between Herzl Street to the west, Jaffa Street to the south and Park HaMesila to the north. Designed by architect Moshe Tzur, it spans three plots, including preservation and additions at Beit Romano, plus two 40-story towers. One tower is already under construction, after excavation and retaining works, and received a building permit at the start of the month. It includes 77 apartments and about 10,000 square meters of retail, employment and hotel space.
W-Box is pursuing a zoning change now after discussion at the district planning committee and before deposit, which would expand the residential component to 151 apartments by reducing other land uses. Completion and occupancy are scheduled for the fourth quarter of 2029. The three additional apartments sold for a combined 77 million shekels will only be finalized if the zoning change is approved. Before April, the project had sold 22 apartments, two in 2023, nine in 2024 and 11 in 2025, at an average of 76,000 shekels per square meter for about 142 million shekels total.
W-Box, led by Yossi Turjeman and controlled by Yaakov Gorsad with a 39.5% stake, has a market value of 381 million shekels. Its shares fell 28% over the past 12 months, while the Tel Aviv Real Estate Index rose 11%. In the first quarter, revenue rose to 16.3 million shekels from 5.9 million a year earlier, driven by apartment sales in a completed TAMA project in Tel Aviv, but the company still posted a 7.6 million shekel loss, versus an 8 million shekel loss in the same quarter last year and a 45 million shekel loss in 2025.
