Almogim Real Estate sells 111 apartments: 70% of transactions utilized financing benefits
Almogim Holdings reported strong sales for the first half of 2026, selling 111 apartments. The majority of these transactions were supported by financing incentives, including contractor loans. The average apartment price stood at 2.65 million NIS.
Almogim Holdings has released its sales data for the first half of 2026. The financial report covering the period up to June 30, 2026, indicates that the company sold 111 housing units for a total volume of approximately 249.4 million NIS (excluding VAT), averaging 2.65 million NIS per unit (including VAT).
The positive momentum continued following the reporting period; from the end of the second quarter through mid-August, the company sold an additional 26 apartments for approximately 47.4 million NIS, averaging 2.151 million NIS per unit.
A breakdown of the sales shows that approximately 70% of transactions were completed using financing benefits, primarily contractor loans capped at 10%. Almogim covered 7.4 million NIS in interest payments to banks on behalf of customers. The company stated that the impact of these benefits is reflected in financial statements by reducing revenues in line with construction progress.
Including these latest sales, Almogim has sold 137 apartments year-to-date with a total contract value of approximately 296.9 million NIS, averaging 2.55 million NIS per unit. Additionally, the company holds 19 signed purchase requests valued at approximately 58.15 million NIS. Projects nearing completion include Or Yam (76% sold) and a joint venture in Eilat with Yossi Avrahami (89% sold), both expected to be ready by year-end.
Quarterly performance highlights include 8 sales in Or Yam (Or Akiva) during the second quarter, compared to 16 in the first, with 43% of the project designated for discounted housing. In Rehovot, 10 apartments were sold in the second quarter. The Rishon LeZion project showed the most significant growth, with 46 total apartments sold year-to-date for approximately 71 million NIS.
Other notable projects include "Aluma" in Yavne (20 units, 48.1 million NIS) and BRAVO in Ramat Gan (9 units, 27.2 million NIS). In Haifa’s "Shmurat Almogim," one unit sold for 5 million NIS, with 80% of the project reserved for discounted housing.
Furthermore, management is in advanced negotiations to sell a cluster of 54 units in the "Shamayim VeAretz" project in Rehovot to an investment fund for approximately 117 million NIS. The company’s backlog consists of 1,426 units under construction, with projected revenues of 2.72 billion NIS and an expected gross profit of 447 million NIS.
