Motslawi and Africa Israel Secure Massive 1.8 Billion NIS Holon Project
Motslawi and Africa Israel Urban Renewal have secured a massive 1.8 billion NIS urban renewal project in Holon, replacing 330 units with 1,000 new apartments.
A massive urban renewal project is set to transform Holon as companies Motslawi and Africa Israel Urban Renewal secure a major contract. The project encompasses 330 existing apartments that will be demolished to make way for approximately 1,000 new housing units and 3,000 square meters of commercial space.
The initiative, spanning a 17-dunam site across Yavne, Bilu, HaMaccabim, Nes Ziona, and Petah Tikva streets, boasts an estimated revenue of 1.8 billion NIS. With projected costs hitting 1.5 billion NIS, the expected profit stands at around 300 million NIS.
Financial Scope and Apartment Distribution
The economic report prepared by the developers outlines estimated sales prices of roughly 28,000 NIS per square meter excluding VAT, translating to approximately 33,000 NIS per square meter including VAT. Out of the 1,000 planned apartments, the developers' share will reach 670 units, alongside 3,000 square meters of commerce and 40,000 square meters of underground parking.
"This is a project of significant municipal importance that will renew an aging residential complex, significantly improve the quality of life for hundreds of families, and add hundreds of new housing units alongside commercial areas," stated Sami Motslawi, Chairman and Owner of Motslawi Building Company.
Leadership and Next Steps
Ronit Ashd Levi, CEO of Africa Israel Residences, emphasized the long-term commitment to property owners, noting the company's rich experience and proven execution capabilities. Legal representative Attorney Amir Steinherz highlighted the complex competitive tender process managed with full transparency.
The project will advance under the 'pinui-binui' (evacuation-construction) framework. Upon securing the legally required 67% majority of property owners, the developers will submit a detailed Town Building Scheme (TABA) to promote the initiative.
