Moshav Ben Shemen has ceded the right to purchase its lands, which have been allocated for construction, to the real estate developer Aura for 45 million NIS. Aura will purchase the lands from the state without a tender.
Moshav Ben Shemen and the construction company Aura, controlled by Yaakov Attracti, recently signed an agreement that is expected to bring 45 million NIS to the Moshav. As part of the transaction, the moshav sold to Aura the rights to its agricultural lands, which were recently transferred to residential construction by the fast-track planning committee, which includes the right to build 500 housing units.
The agreement was concluded about a month after the decision and the approval plan for the “Ben Shemen” plan proposed by the apartment rental company.
According to the law, when a plan is approved in an area where there is a long-term agricultural tenant, the tenant has the right to purchase up to 20% of the total land to be built exempt from a tender.
In the case of the Ben Shemen plan, the moshav was offered the option to purchase up to 500 housing units from the state, without a tender. Last September, when it became clear that the construction plan was to be approved, the moshav was subjected to a tender process managed by attorney Chen Somekh. As part of this process, it approached several large residential construction companies and offered to sell them the rights.
Various companies submitted bids and at the end of the process, Aura obtained the right to purchase the portion of the land belonging to the moshav. For this right, the company will pay 90,000 shekels per housing unit, totaling 45 million NIS.
According to the Ben Shemen plan approved a month ago, several hundred of the 4,500 apartments whose construction has been approved will be designated for long-term rental and 300 apartments will be marketed as Diyour mougan for the elderly. The plan also included 16,000 square meters dedicated to commerce and employment, but part will be sold as part of the “menhir lamishtaken” plan. The price of a new four-room apartment in the area could reach 1.5 million NIS.
