Bnei Brak Industrial Zone to Be Converted into Residential Complex
The Tel Aviv District Committee approved a major urban renewal project in Bnei Brak, converting an industrial zone into 198 apartments, commercial spaces, and public buildings amid rising property values.
The severe land scarcity in central Israel has prompted planners to adopt creative urban renewal strategies, shifting away from traditional greenfield projects toward the transformation of older industrial zones into mixed-use residential hubs. The Tel Aviv District Planning and Building Committee has approved a major project in Bnei Brak, converting an aging industrial area into 198 new apartments alongside commercial and public spaces.
Transforming Bnei Brak's Industrial Sector
The approved initiative spans roughly 16 dunams at the intersection of HaMaccabim Street and Em HaMoshavot Road. The development plan outlines the construction of seven buildings standing at 6.5 stories high, featuring approximately 40 smaller apartments to accommodate diverse housing needs. Additionally, the project incorporates 1,000 square meters of retail frontage along HaMaccabim Street and a dedicated 12-story public building spanning about 19,000 square meters, designed to house educational, community, cultural, health, and religious facilities.
"The plan makes it possible to transform an old industrial area characterized by environmental nuisances into a new urban complex that combines housing, commerce, and public buildings," said Tel Aviv District Planner Erez Ben Eliezer.
Housing Prices and Real Estate Trends in Bnei Brak
Real estate prices in Bnei Brak typically range between 26,000 and 30,000 NIS per square meter, with smaller 3-room apartments frequently crossing the higher threshold due to limited supply and high demand. Larger properties also command significant sums; for instance, a 153-square-meter apartment on HaYarkon Street sold recently for 4.93 million NIS, while a 148-square-meter unit nearby fetched 4.75 million NIS.
Simultaneously, urban development challenges persist in the city. Residents of the HaSofirim project in Bnei Brak recently filed a 1.58 million NIS lawsuit against developer Oded Shriki, head of Arazi HaNegev, citing severe delivery delays for apartments purchased under the government's Target Price program.