Financial Report: 147 Apartments Sold in Q2
Shoval Engineering has released its financial results for the second quarter of 2026, reporting the sale of 147 apartments compared to 29 in the same quarter of 2025. CEO Ishay Rot stated that housing demand has not disappeared but has been partially postponed.
Shoval Engineering has published its financial results for the second quarter of 2026, recording a significant increase in new apartment sales compared to the same quarter last year. In the second quarter of this year, the company sold 147 housing units, 146 of which were on the free market, for a total financial volume of approximately 336 million shekels including VAT. This compares to 29 units in the same quarter of 2025, which amounted to approximately 74 million shekels.
The report indicates that from the beginning of the year to the publication date, the company sold 303 housing units (the company's share is 183 units) with a financial volume of approximately 566 million shekels (the company's share is approximately 325 million shekels). Net profit for the first half of the year stands at approximately 12.2 million shekels, with approximately 6.6 million shekels generated in the second quarter.
Ishay Rot, CEO of Shoval Engineering, commented on the results:
"In a period when the market is dealing with high interest rates, uncertainty, and buyers who are still sitting on the fence, we sold 147 housing units in the second quarter compared to 29 units in the same period. For us, this is an expression of the buyers' trust in the projects, the locations, and the Shoval Group. We believe that the demand for housing has not disappeared, but has been partially postponed. At the same time, the decline in housing starts may deepen the supply shortage. As the interest rate environment changes and demand returns to the market with force, the gap between supply and demand may be felt even more."
Rot further added that the company continues to increase its activity, with nearly 2,000 housing units under construction and hundreds more expected to begin by year-end. Following the balance sheet date, the company also completed the acquisition of Yitzhak Stern & Co., a strategic move that expands its execution arm and strengthens the Shoval Group along the entire industry value chain.
