Prashkovsky Launches Apartment Tender with Up to 15% Discount

The Prashkovsky company has decided to shake up the market. It recently announced a promotion offering a discount of up to 15% off the sale price of apartments. In an interview, Yossi Prashkovsky, the company's CEO, stated that he hopes to receive offers above the minimum price.

From Prashkovsky's perspective, such a deal is possible due to past events: the company acquired land at historical prices, which maintains a high entrepreneurial profit margin. A review shows that the discounts represent about 8% on average compared to the most recent apartment sales.

If Prashkovsky receives higher offers and sells the apartments at an average discount of 6%, it will be considered a success. Many developers today factor in discounts of 3%-6% in the prices of new apartments. Prashkovsky limits the financing benefit but receives "live money" in one installment, which reduces debt and leverage, while saving on financing costs with banks.

The company claims that over 100,000 people have visited the website for the big apartment tender. While this does not guarantee registration, the company only needs 400 registrants to sell all available stock. The tender will open on August 9 for 72 hours only. The company reports a surge of thousands of percent in visits to sales offices. Participating projects include HaGaDa on the banks of the Yarkon in Tel Aviv, Gan Rashel in Herzliya, Glil Yam, Kiryat Pras in Ashdod, Ramat HaNasi, and Moradot Lincoln in Haifa.

"Since we launched the big apartment tender, we have witnessed record interest, with over 100,000 entries to the website and a massive increase in visits to our sales offices by interested parties preparing their offers," says Haim Karadi, CEO of Prashkovsky Menivim. "We call on everyone who did not win in the 'Dira Be-Hanacha' (Apartment at a Discount) tender to submit offers in our tender, which offers new apartments in prestigious projects at prices significantly below market value, through a clear and fair process."

The timing is a key strategic element: Prashkovsky timed the launch to follow the notification period for the 'Dira Be-Hanacha' program.

As part of this initiative, Prashkovsky is launching a digital real estate sales event, the first of its kind in Israel, where anyone can submit up to 3 offers for new apartments ranging from 3-room units to garden apartments in desirable projects nationwide.

The tender will be open from 19:00 on August 9 until 19:00 on August 12. Each participant can submit up to 3 offers. To purchase more than one apartment, a participant can provide an additional guarantee as defined in the tender to submit 3 additional offers. The company recruited Eli Finish, star of 'Eretz Nehederet', for the campaign, investing 15 million shekels in the effort.