Aura sales surge: 720 apartments in half a year and record revenue of 1 billion shekels
The real estate market slowdown is bypassing the leading urban renewal company. Aura sold 385 apartments in five days during the 'Hever' campaign, with revenue crossing the 1 billion shekel threshold for the first half of the year.
The slowdown in the real estate market is affecting large developers, but judging by the figures from Aura, Israel's largest urban renewal company, the trend is skipping over them. Aura is not just another developer operating under the 'Buyer's Price' program, but a firm executing urban renewal projects nationwide. According to its reports, the company has sold 720 apartments since the beginning of the year, crossing the 1 billion shekel revenue threshold for the first time in a six-month period. If this pace continues, the company is on track to exceed 1,000 apartments this year, despite setting an ambitious target of 1,300.
Revenue for the first half of the year totaled approximately 1.05 billion shekels, a 26% increase compared to the same period last year. Gross profit reached approximately 256 million shekels, up 14.7% with a margin of 24.3%. Net profit stood at approximately 116.4 million shekels.
A significant boost came from the 'Hever' campaign for career soldiers, where the company sold 385 apartments in just five days. Club members were offered units in five projects located in Kiryat Ono, Ramat HaSharon, Ramat Hen, Hadera, and Ofakim. To date, 101 contracts have been signed, with 284 additional registration requests expected to mature into sales contracts shortly. Equity has risen to a record 1.94 billion shekels and is projected to exceed the 2 billion shekel mark this quarter.
Following these results, Aura announced a semi-annual dividend distribution of 25 million shekels. The company is currently managing 27 projects comprising 7,844 housing units. In the coming year, it plans to complete projects in Kiryat Ono, Ramat Hen, Sarlin (Holon), and Eliyahu Berlin in Tel Aviv, while launching 15 new projects, including sites in Ness Ziona, Dafna (Tel Aviv), Rehovot, Kiryat Yam, and Kiryat Ekron.
"Aura is showing exceptional strength in sales. In just five days, we sold 385 housing units in the 'Hever' campaign, reaching approximately 720 units sold since the start of the year. This is a significant achievement against the backdrop of an industry slowdown. Our high gross profitability allows us to be competitive and offer discounts while maintaining strong margins," said Yaakov Atrakchi, owner and CEO of Aura.
