Matslaui Receives Approval to Occupy 576 Apartments in Bat Yam Project

Matslaui, a real estate company, announced it has received a completion certificate for the first phase of the Ayalon Quarter urban renewal project in Bat Yam. This certificate allows the company to begin occupancy procedures for 576 new apartments, replacing two older buildings that housed 96 units. The project, located at 101-109 Yoseftal Street, also includes approximately 12,000 square meters of commercial and employment space.

Matslaui holds a 50% stake in the project, partnered with Nitzba Urban Renewal. The company anticipates over 500 million shekels in revenue from its share in this phase. More than 90% of the apartments have already been sold, with 47 units remaining on the market.

The company is also advancing the second phase of the Ayalon Quarter project, which involves demolishing 93 existing apartments to construct 502 new ones across three 43-story towers. This phase will add about 13,000 square meters of commercial and employment space. A demolition permit has been secured, and construction is expected to commence in the first quarter of 2027.

Collectively, both phases of the Ayalon Quarter project will feature 1,078 residential units and approximately 25,000 square meters of commercial and employment areas. Sami Matslaui, the company's owner, stated that receiving the completion certificate is a significant milestone, demonstrating Matslaui's capability in executing complex urban renewal projects. He highlighted the transformation from old buildings to modern residential and commercial spaces, contributing to Bat Yam's renewal.

Liran Chapni, VP of Execution and Engineering at Matslaui, described the first phase as a complex urban renewal project that presented significant engineering and management challenges. He emphasized the close coordination required among all involved parties and adherence to strict regulatory demands to achieve the completion certificate, expressing pride in the outcome.