Aura Reports Over 780 Apartment Sales in Nine Months Despite Slowdown
Real estate firm Aura reports over 780 apartment sales in the first nine months of the year, driven by a successful targeted campaign offering significant buyer discounts.
Aura has sold over 780 apartments since the beginning of the year, including 722 binding contracts in the first nine months and about 60 additional apartment reservations expected to mature into full contracts soon.
Sales Pace and Market Strategy
Aura maintains an annual sales pace exceeding 1,000 apartments. Company owner Jacob Atragchi stated in an interview that he will meet this target in 2026 despite overall market slowdowns. While current figures lag slightly behind the ultimate goal, Aura anticipates accelerated sales in the final quarter of the year.
The company recently boosted its transaction volume through a targeted sales campaign with the "Hever" organization for military personnel and reservists. Buyers received discounts of up to 12%, enabling Aura to market hundreds of units within days.
"The public that purchased apartments received a 10% to 12% discount," Jacob Atragchi noted. "Our gross profit stands at 24%, so we could comfortably afford to settle for a 20% margin. Urban renewal companies achieve higher profitability due to the lower risk profile of acquiring land directly from owners in exchange for new units."
Strong Performance Amid Market Challenges
Aura successfully sold 385 apartments through the Hever campaign across five projects in Kiryat Ono, Ramat Gan, Ramat HaSharon, Hadera, and Ofakim within five days, with the vast majority resulting in binding contracts.
"We are reporting excellent sales figures for the first nine months of the year and anticipate a strong year-end finish," Atragchi added. "Rising rental prices alongside declining interest rates are bringing buyers down from the fence and returning demand to the housing market."
