No Bids Received for 183 Housing Units Tender in Ma'ale Adumim, Second Failure

A tender by the Israel Land Authority (ILA) for the construction of 183 housing units in the Tzipor Midbar neighborhood of Ma'ale Adumim has closed without any bids, marking the second consecutive failure for this specific plot. The land was valued at approximately NIS 90 million, with a minimum price of NIS 10 million. The tender, originally published in July 2026, also included development costs of about NIS 99.6 million. The previous tender for the same site in February also received no offers. A separate tender for 350 sheltered housing units in Ma'ale Adumim also failed last summer, though a tender for 48 units in a nearby complex did receive a bid. In contrast, a tender for 2,797 housing units in the same neighborhood, under the 'Target Price' track, successfully closed at the end of 2025.

In other real estate news, the Tel Aviv Local Planning and Building Committee has recommended the District Committee approve a plan to preserve the Beit Romano complex and transfer its development rights to adjacent areas. Under this plan, Beit Romano, owned by Wi-Box, would become municipal property and continue as a cultural and entertainment hub. In return, the company would receive development rights for residential, affordable housing, employment, and commercial spaces in nearby areas. The plan covers approximately 11.5 dunams and involves three complexes, including the Beit Romano site, the Niva Gat Rimon complex, and a site at 64 Menachem Begin Street. The development rights transfer would allow for the addition of about 6-7 stories to three already approved towers, while preserving public open spaces.

The Tel Aviv District Planning and Building Committee has also approved the plan for the permanent building of the United Arab Emirates embassy in Israel, located at 9 Sapir Street in the Herzliya Pituah industrial zone. The approximately 2.5 dunam site will accommodate a building of up to 15 stories, with up to 20% of the built area designated for the ambassador's and diplomatic staff's residences. This development follows the Abraham Accords and the establishment of diplomatic relations in 2020. The embassy currently operates from temporary offices. The Herzliya municipality owns the land and is coordinating its transfer to the state for lease to the UAE, in exchange for an alternative plot in the marina area.

Additionally, G-City has signed a long-term agreement with Agira to install electricity storage systems for self-consumption at ten of its Israeli properties. The first system, planned for G-City's Rishon Lezion complex, will involve an investment of about NIS 12 million and have a capacity of approximately 20 megawatt-hours. These systems will store electricity during off-peak hours for use during peak times, aiming to reduce electricity expenses. G-City estimates the total storage potential across its Israeli properties at around 300 megawatt-hours, with potential expansion to international assets and additional revenue streams.

Finally, Dankner Kanlov Urban Renewal has secured financing agreements totaling up to NIS 46.6 million from Gemula Harel to complete equity for four urban renewal projects in Herzliya, Tel Aviv, and Ramat Gan. The funding will support projects including a seven-story, 22-apartment building in Herzliya, replacing a previous nine-apartment structure, expected for completion in Q4 2028. Another project in Tel Aviv involves a four-story building with 15 apartments, for which a building permit has been obtained and pre-sale is complete. Ruth Oren Homonai, CEO of InterGama Group, stated that this financing will enable the company to advance multiple projects simultaneously and expand its operations in central Israel's demand areas.