Giv'ataim Housing Prices: ICR Launches JASMIN Luxury Tower Project
Housing prices in Giv'ataim hover around 41,000 to 44,000 NIS per square meter as ICR launches the 32-story JASMIN luxury tower project.
Housing prices in Giv'ataim currently average between 41,000 and 44,000 NIS per square meter for new developments. Real estate market trends show steady demand in central locations close to Tel Aviv, reflecting high property values across the urban renewal sector.
New Luxury Project Launches
ICR, a joint venture of Israel Canada and Ra'am Magurim, has officially initiated construction on the JASMIN luxury tower. The 32-story residential project will feature 117 new apartments, replacing three older buildings that previously housed 42 residents. According to the company's disclosures, the baseline pricing is set at 43,000 NIS per square meter, which aligns closely with current market averages for the southern part of the city near Aluf Sade.
Market comparisons for 4-room apartments in the vicinity reveal that typical pricing ranges from 4 million to 4.2 million NIS on lower floors, and up to 4.9 million NIS on higher floors. Meanwhile, standard 3-room apartments command between 3.7 million and 4 million NIS. While these figures remain expensive relative to the national average, they are comparable to standard pricing in several Tel Aviv neighborhoods.
Sales Progress and Developer Outlook
"The market's expression of confidence in the project was evident even in the early sales stages, and we continue to develop and invest in leading demand areas in Israel in general and in Giv'ataim in particular," said Dalit Rabiv, CEO of ICR Israel Canada Ra'am Magurim.
Company figures indicate that 17% of the apartments have already been sold during the preliminary phase, with project completion and occupancy scheduled within approximately five years. Construction is being handled by Electra Building.
