Israel Opens First Seaside Resort for Seniors With High Entry Fees
Translated & summarized from NEWSru Israel by baba
Israel's first seaside residential resort for seniors, SEA ONE in Rishon LeZion, opened on November 1. The project requires a 2.5 million shekel deposit and monthly fees from 10,000 shekels. Investments total around 1 billion shekels, funded by banks and bond issuance. The first 50 apartments have been occupied in the eight-story facility.
The story in 6 lines · by baba
- Israel's first seaside senior resort, SEA ONE in Rishon LeZion, opened November 1.
- Entry requires a 2.5 million shekel deposit and monthly fees starting at 10,000 shekels.
- The project's total investment is estimated at 1 billion shekels.
- Banks Leumi and Mizrahi-Tefahot provided funding for the resort.
- The Oranim Group raised an additional 600 million shekels through bond issuance.
- The eight-story resort includes amenities like pools, a spa, and a gym.
The Oranim Group officially opened SEA ONE, Israel's first residential resort for seniors located directly on the coast in Rishon LeZion, on Sunday, November 1.
The project requires an initial deposit of 2.5 million shekels and a monthly fee starting at 10,000 shekels. The deposit is fully refundable at the end of the contract term, adjusted for the consumer price index. All services are included in the cost.
Investments in the resort are estimated at approximately 1 billion shekels, with funding provided by Bank Leumi and Mizrahi-Tefahot Bank. The group also raised 600 million shekels by issuing bonds on the Tel Aviv Stock Exchange at a 4% annual interest rate, linked to the index.
The first 50 apartments have been occupied in recent weeks. The eight-story building features sea views and direct access to the promenade, along with two swimming pools, a spa, a gym, yoga and Pilates studios, and co-working spaces.
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