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Developer Ordered to Pay Monthly Compensation to Buyers for Delayed Apartments
A Herzliya court ordered a developer to pay monthly compensation to nine apartment buyers in Petah Tikva due to a significant delay of 23 to 39 months in delivering their homes. The interim order, considered unusual, mandates payments from October 2026 until delivery.
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What happened
- 01A developer must pay monthly compensation to nine buyers for delayed Petah Tikva apartments.
- 02The delay in apartment delivery is between 23 and 39 months past the contract date.
- 03The court ordered monthly payments of NIS 6,250 to NIS 7,500 until apartments are delivered.
- 04The interim order is considered unique and was granted early in the legal process.
- 05A request to force project completion was denied due to the absence of an occupancy permit.
- 06The main lawsuit seeking NIS 1.49 million in damages for past delays is still pending.
The court denied a request to force project completion, citing the lack of an occupancy permit. The main lawsuit for NIS 1.49 million in damages is still pending.
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