Petah Tikva Demolishes 10 Buildings for 132 New Apartments
Translated & summarized from Mignews by baba
Petah Tikva has begun demolishing 10 old apartment buildings in the Amishav neighborhood to construct 132 new apartments as part of the "Tzalah Shalom" urban renewal project. The 187 million shekel investment by Av-Gad Holdings and Bino Real Estate aims to replace 40 existing units with five modern seven-story buildings. The project is expected to significantly improve living conditions and provide new housing options in the area.
The story in 6 lines · by baba
- Petah Tikva's "Tzalah Shalom" project begins demolition of 10 buildings for 132 new apartments.
- The urban renewal project involves an investment of approximately 187 million shekels.
- Av-Gad Holdings and Bino Real Estate are developing the site on Tzalah and Adash Shafik streets.
- 92 of the 132 new apartments will be for sale on the open market.
- Acting Mayor Eliyahu Ginat emphasized the city's focus on urban renewal and safety.
- Av-Gad is undertaking 9 projects in Petah Tikva, totaling 1,246 new apartments.
In the Amishav neighborhood of Petah Tikva, the "Tzalah Shalom" urban renewal project has commenced with the demolition of 10 older residential buildings to make way for 132 new apartments. The project, a collaboration between Av-Gad Holdings and Bino Real Estate, involves an investment of approximately 187 million shekels. A demolition ceremony took place on November 2, marking the transition from planning to execution. The 10 demolished two-story buildings housed 40 apartments, which will be replaced by five new seven-story buildings.
Of the 132 new apartments, 92 will be offered for sale on the open market. Michaël Ratzon, Chairman of Av-Gad, stated that the demolition signifies turning plans into reality and offers residents a chance for a new life in modern, safe homes. Raam Ratzon, CEO of Av-Gad, addressed residents, emphasizing the creation of new memories in the revitalized area. Yaakov Peretz of Bino Real Estate noted his decade-long involvement in the complex's renewal, with the first phase recently receiving occupancy permits ("Tofes 4").
Acting Mayor of Petah Tikva, Eliyahu Ginat, highlighted the municipality's commitment to urban renewal in the Amishav area, stressing the importance of such projects for providing modern protective spaces and improving living conditions. Av-Gad acquired a 62.5% stake in the project in early 2026, with Bino Real Estate, owned by Kobi and Eilon Peretz, holding the remaining 37.5%.
The "Tzalah Shalom" project is part of Av-Gad's broader expansion in Petah Tikva, where the company is involved in 9 projects totaling 1,246 apartments. These include large complexes on Wolfson and Savion streets (480 apartments) and Rothschild and KKL streets (226 apartments). Av-Gad is also completing 36 apartments on Anilevich Street and preparing to start construction on 25 apartments on Ben Yehuda Street.
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