Massive Construction Underway for Benedict Complex in Bnei Brak
Translated & summarized from Behadrei Haredim by baba
Construction has begun on the Benedict complex in Bnei Brak, a project featuring 102 residential units, commercial spaces, and public facilities. The NIS 132 million project, managed by D.S. Megurei Israel and executed by Wells Engineering and Construction, is designed to cater to Haredi families. The complex is expected to be completed in approximately two and a half years, with apartment prices estimated to be significantly lower than market value.
The story in 6 lines · by baba
- Construction is underway for the 102-unit Benedict complex in Bnei Brak, with a NIS 132 million execution agreement.
- The project includes residential units, commercial spaces, and public facilities designed for Haredi families.
- Wells Engineering and Construction was selected to execute the project after a competitive bidding process.
- The complex is situated on one of the last significant land reserves in old Bnei Brak.
- Apartment prices are estimated to be significantly lower than market value upon completion.
- Completion and delivery of apartments are expected within approximately two and a half years.
Construction has commenced on the Benedict complex in the heart of Bnei Brak, following the full building permit's issuance last month and a NIS 132 million execution agreement with Wells Engineering and Construction. Megurei Israel.
The complex will feature 102 residential units, commercial spaces, and public facilities. The full building permit was granted in August after an extensive planning process that included approving a new city building plan and increasing building rights. Prior to this, significant excavation and shoring work was completed in preparation for three underground parking levels.
Wells Engineering and Construction, chosen from six bidders, will undertake the project. The company, with over two decades of residential construction experience, signed a NIS 132 million contract covering all work until project completion and occupancy permits. Construction financing is provided by Robi Capital, with Solomon Engineering supervising on behalf of the purchasing group.
The project includes four six-story residential buildings with penthouse floors, offering 102 apartments ranging from three to six rooms. A three-level underground parking garage with 118 spaces and private storage units will be built, along with open areas, gardens, and a playground.
The design specifically caters to Haredi families, incorporating sukkah balconies in all apartments, Shabbat elevators, generator connections, and shared facilities supervised by 'Mishmeret Shabbat.' Apartments will boast high-end finishes, including 100x100 cm tiling, a designer lobby, 2.70-meter ceilings, and upgraded kitchens. The Benedict complex, spanning approximately four dunams, is one of the last significant land reserves in old Bnei Brak.
The land was acquired in November 2020 for approximately NIS 154.7 million by the D.S. Megurei Israel-managed purchasing group after a lengthy legal process. The estimated average cost for a four-room apartment is NIS 2.4 million, and for a five-room apartment, NIS 2.7 million, which is considered significantly lower than the estimated value of completed apartments in the area.
David Shachmi, co-owner of D.S. Megurei Israel, stated that after years of work on land rights and planning, construction progress is now visible. Dan Sham Tov, also a co-owner, added that the 102 apartments were designed with Haredi families' needs in mind, emphasizing a commitment to responsibility and professionalism throughout the construction process.