Yigal Damri: "I bought apartments for myself and the children in Sde Dov, to have for vacations"
The owner of Y.H. Damri explains why he bought apartments for himself and his children in Sde Dov and denied it was done to boost sales: "Sde Dov is going to be one of the best neighborhoods in the country. We have done over 41 deals. Not the pace we expected, but I am not worried."
Recent events in Sde Dov caught some contractors unprepared: The Ministry of Environmental Protection announced that it had found pollution on some of the land, which could delay the work. One of the development companies building in the complex is the Damri company. In the first quarter of the year, it sold nine apartments, four of which were purchased by the controlling shareholder, Yigal Damri, for himself and his family members.
Damri, the controlling shareholder of the company, who recently increased his stake in it, confirmed this after reporting it in the company's report. To the question of whether he sells apartments to his family only to present sales data, he replied:
"It has nothing to do with 'seeing' or 'not seeing'. I think Sde Dov is going to be one of the best neighborhoods in the country, so I was happy to take apartments for the children and an apartment for myself, not to live in, just to have for vacations. These are 70 to 80-meter apartments overlooking the sea, one for each of the children."
In an interview with the "Beton Hasuf" (Exposed Concrete) podcast on All in, Damri expressed confidence in the project and the area: "I really believe in this neighborhood," and noted that beyond the current plot, which has over 450 units, he won another tender in Sde Dov, in complex 3, which is currently in the planning stages. Regarding the pace of sales, he said: "We are already at over 41 to 42 deals, plus some purchase requests that are progressing. True, it is not the pace we expected, but I am not worried."
Later in the interview, Damri addressed his lifestyle and said that he and his family have lived in the same house in Netivot since 1986, a house he built himself: "I am happy with my life. Money is not everything in life in my opinion, it is being a human being, that is quality of life."
Damri further said that the house from 1986 has never been rented out, and since he moved to his new home, he makes it available to young couples who have just married, without rent: "Every couple that gets married and does not have a home lives there," he said, noting that over the years 15 to 20 couples have passed through the house, paying only municipal taxes (arnona), water, and electricity. "For me, it is worth all the money," he concluded.
