Huge deal in Hod Hasharon: four companies jointly purchased 150 dunams for 200 million NIS.
The land located to the southwest of the city, near the new park, was purchased by Shapir (20.5%), Africa Israel, Elad, and Tzemach Hammerman, each representing 26.5%. According to the master plan of Hod Hasharon, which has not yet been approved, this area is supposed to change its designation for commercial housing and offices.
The agreement was signed on Wednesday evening, when the relative distribution of the acquisition among the two companies was 26.5% of the land for each of the three companies: Elad Residences, Tzemach Hammerman, and Africa Israel. Shapir’s share is slightly lower, representing 20.5% of the purchase. Consequently, the three main partners paid 53 million NIS each, while Shapir paid 40 million.
In a statement released by Shapir, the company stated that “the purchased lands are agricultural lands that, according to the master plan, will be subject to zoning for residential, office, and commercial use.”
The finalization of the transaction is subject to the approval of the antitrust commissioner.
“The new master plan of Hod Hasharon is a demographic growth engine for a city that will benefit its residents with the addition of residential spaces and jobs in order to promote the city,” said Gad Gershon, vice president of real estate development at Shapir Residential and Building. Detailed according to the plan to be approved.
According to Haim Feiglin, CEO and owner of Tzemach Hammerman, “we expect this land division, which is designated for development in the regional master plan, to be integrated into the long-term development plans of Hod Hasharon. According to the plan, a residential neighborhood is expected to be built in the near future, with a certain percentage of offices and public institutions.
