Yubalim Acquires Herzliya Plot Valued at 200 Million Shekels in Liquidation Deal

Yubalim, an Israeli real estate company, has purchased a roughly 4-dunam plot in Herzliya valued at about 200 million shekels through a liquidation process, according to reports. The plot, known as Plot 405, is part of the approved "Kiryat HaMaslul" plan under TAMA 1083. Located east of the airfield between Kanfei Nesharim and Menachem Begin streets, the site is slated for development of 158 housing units, including smaller apartments, within two buildings: a 27-story tower and an 8-story building.

Originally, the land was owned by multiple parties, including the American Zionist Community settlement company, which held approximately 33% and is currently in liquidation, and Yubalim, which initially owned about 20%. During the sale process, Yubalim signed option agreements with other landowners, increasing its stake to roughly 53%, allowing its bids to reflect the full land value.

A professional appraisal valued the land at 171 million shekels. After an initial bidding round with a starting improvement offer of 150 million shekels, competing bids included 155 million shekels from Guy and Doron Levi, and 155 million shekels from Torah VeAdama Real Estate and Euro Shay Hai. Ultimately, Yubalim's offer prevailed, reflecting a 200 million shekel valuation. However, Yubalim will pay only for the 47% of the land it does not already own, amounting to about 94 million shekels.