Gindi Holdings Sells 67 Apartments in Five Days With Novel Payment Plan

Gindi Holdings has reported significant success with a new sales initiative for its residential projects, selling 67 apartments in just five days. The campaign, which began over the weekend, has generated considerable buzz in the real estate market, not due to drastic price cuts, but because of its unique payment structure.

Unlike typical contractor deals, Gindi's offer allows buyers to pay only 30% of the purchase price over a ten-year period. This innovative approach aims to differentiate Gindi from competitors in a saturated market where financing benefits are common. While the company claims buyers can save up to 700,000 shekels, the primary financial benefit appears to be for Gindi itself, securing immediate cash flow and reducing its reliance on loans, thereby avoiding interest payments of at least 7% and offering a full exemption from indexation.

Since the campaign's launch, Gindi received over 2,000 leads, prompting the establishment of an operations room to handle inquiries. Approximately 20 meetings were conducted daily, resulting in the 67 apartment sales, which represent purchase requests with down payments for four of the company's projects across Israel.

The company anticipates earning approximately 240 million shekels from these sales. Some buyers are existing customers from Gindi's loyalty club and databases. The 300 available units are spread across four projects located in Ramat Efal, Kfar Azar in Ramat Gan, Neve Aylon near Ramat Pinkas, and Galil Yam in Herzliya.

Under the new payment plan, buyers pay 20% of the apartment's price upfront and the remaining 50% upon delivery. A five-room apartment in Galil Yam starts at 4.2 million shekels, while 3.5-room apartments in Kfar Azar begin at 2.7 million shekels. In Neve Aylon, a four-room apartment is priced from 2.1 million shekels. Gindi highlights that this payment flexibility allows buyers to better plan their finances over an extended period and reduces the mortgage amount needed at the time of delivery.