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Israel Canada Sees 35% Drop in Apartment Sales but Average Price Rises to 5.75 Million Shekels

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

Unrated 2

First reported by Globes · 5 hours ago

What happened

Israel Canada experienced a 35% drop in apartment sales in Q2 but saw the average price rise to 5.75 million shekels. The company returned to profitability with a 22 million shekel net profit despite a half-year loss due to hotel sector impacts from security issues. Sales in key projects Rainbow and Midtown showed modest activity with ongoing apartment availability.

01Israel Canada’s apartment sales fell 35% in Q2 to 56 units, with revenue down 28% to 322 million shekels.
02Average apartment price rose to 5.75 million shekels from 5.2 million shekels in Q1.
03Company returned to a net profit of 22 million shekels in Q2 after hotel sector losses earlier in the year.
04Hotel operations were hit by cancellations and low occupancy due to security tensions and Operation Breaking Dawn.
05Rainbow project sold 3 apartments in Q2 with a 3% price drop per square meter; 184 units remain unsold.
06Midtown Jerusalem project signed 12 sales agreements in Q2, with 411 apartments still available.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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