Yitzhaki Group Buys 60-Dunam Land in Ra'anana for NIS 250 Million to Develop Mixed-Use Complex

The Yitzhaki Group, led by entrepreneur Roni Yitzhaki, has acquired approximately 60 dunams of land in western Ra'anana from Mishan for NIS 250 million, with additional potential future payments. The site is located near Highway 531, Ra'anana West train station, and the planned metro line, positioning it strategically for urban development. Yitzhaki plans to develop a large mixed-use complex featuring residential units, commercial spaces, employment areas, and senior housing.

According to the current approved master plan, the project could include around 600 housing units, 45,000 square meters of commercial and office space, and 400 senior housing units. The proximity to mass transit and Highway 531 is expected to enhance the site's value and accessibility. The Yitzhaki Group is an established real estate company active in residential development, urban renewal, and income-generating properties, with a history of projects in high-demand areas.

This transaction is one of the most significant recent land deals in Ra'anana due to its scale and development potential. The combination of hundreds of housing units with extensive commercial and senior living facilities could make it a key development in the city's west. Mishan decided to sell the land because the senior housing facility on the site, operated by an external party (Amal Nursing Home in Sharon), was not directly managed by them. The senior housing will continue to operate for now.

Mishan, managed by Omri Cohen with Shabi Michaeli as chairman, had not utilized the land and decided to sell it over a year ago. The land is currently agricultural, and rezoning and betterment levies are expected to add hundreds of millions of shekels in value. Mishan will also receive a share of future project profits if it proceeds.