Yaakov Atrakchi: 'One More Interest Rate Cut Is Enough for More People to Buy Apartments'

After setting a target of selling 1,200 housing units in 2026 and concluding the first half of the year with 291 sales, Aura is launching a marketing campaign in collaboration with the 'Hever' club. The company hopes for results similar to its previous campaign with the career military and retiree consumer club, which saw 290 units sold in a single quarter. Aura is offering 'Hever' members the opportunity to purchase nearly 800 units across five projects: Hadera, Ramat HaSharon, Ramat Hen (Ramat Gan), Kiryat Ono, and Ofakim. The offer includes a discount on the sale price, favorable 15:85 financing terms (15% payment upon signing, balance near occupancy), and an exemption from index-linked payments, provided contracts are signed within two weeks.

Last month, the company, led by controlling shareholder Yaakov Atrakchi (47.1%), reported a 6% decrease in sales for the first half of the year compared to the same period in 2025 (291 units versus 309). This follows a 2025 performance of 1,036 units sold against a 1,300-unit target. The sales data underscores the need for the 'Hever' collaboration; for instance, in the 'Rasco' project in Hadera (430 units), only eight units were sold since the beginning of the year, while the projects in Ramat HaSharon, Ramat Hen, and Kiryat Ono saw only five units sold out of 370 available.

In an interview with Calcalist, Atrakchi noted:

"Our sales campaigns have always been intended for security forces personnel. We want to offer them a value proposition they deserve. Unlike the previous campaign in the 'Strip' project in Netanya, this time we are offering a wide range of options in terms of locations, apartment mix, prices, and occupancy dates."

Atrakchi expressed confidence in the company's performance: "We are profitable and have very low leverage compared to other companies. The market situation over the last year and a half has been difficult, but Aura has shown good results even in a weak period."

He believes the market is approaching a turning point. Rising rental prices and an expected interest rate cut will likely incentivize more people to purchase homes. Atrakchi noted that second-half sales are traditionally stronger, and with upcoming pre-sales, he expects to reach 1,000 units sold by year-end.

Regarding financing risks, Atrakchi explained that the 'Hever' audience is relatively strong. Buyers must pay 15% from equity, and a 10% cancellation penalty applies. "I can count on the fingers of one hand the number of transaction cancellations we have had for all the apartments we have delivered in recent years," he concluded.