The Netanya Local Planning and Construction Committee has decided to recommend to the Center District Committee to deposit a detailed plan within the framework of a combination project in complex 542/3, which is expected to be the city’s new city. This is a collaboration between Beit Vagg Zemot and Real Estate (50%) and the companies Africa Urban Renewal Ltd. and Africa Israel Residential Ltd. (together 50%).
The proposed plan covers about 49 dunams in the western part of Netanya, in the new Ofek Haim neighborhood. The project will include seven residential buildings of 10 to 30 floors, which will include 735 housing units. In addition, areas will be allocated for trade and employment, public buildings, roads and open areas for public welfare.
The estimated investment cost in the project is expected to be about NIS 850 million, with the income expected to be about NIS 1 billion. The project is designed by the firm of architects Alonim-Gurwitz.
The Ofek Hayam neighborhood is on the road from the Ramat Pulag neighborhood in the south of the city, to the center. It is adjacent to the beach, and its borders are Sderot Ben Ami to the west, Sderot Ben Zvi to the west, and the Neve Oz neighborhood to the south. The land in the new neighborhood is vacant for construction, since it is a matter of vacant land reserves that existed in the city. In the new neighborhood, which has an area of about 780 dunams, about 6,300 new apartments, a main business center, public and commercial areas are planned in the first phase. In the past there was even talk of building a town hall in the complex.
About six months ago, the District Commission for Deposit approved a plan for the establishment of a new residential, commercial and employment complex in Horizon Sea. The program was initiated by Shikun and Binui Real Estate. This is a complex with an area of 51 dunams, on which 720 housing units are to be built in nine buildings of 16-30 floors, as well as about 6,700 square meters of commercial space, 12,600 square meters of employment space and about 20,000 square meters designated for public buildings. The plan. Edited by Doron Ahali architects and urban planners.
Ronen Ekabia, CEO of Beit Vegg Entrepreneurship and Real Estate, said: “Besides Beit Vegg’s existing activities, which include dozens of projects in Tel Aviv and Gush Dan, the company is expanding its activities to significant and strategic construction complexes in Sharon, such as this substantial project in the Ofek Hayam neighborhood in Netanya. The mission Now there is a rapid promotion of the approval of the IBA in the district committee. The partnership in this project with Africa Israel created a powerful, professional and quality synergy, which led to a quick and full response from the landowners in the complex and to the promotion of a quick and successful planning process with the planning authorities. Complex 542/3 is part of a strategic plan for the city of Netanya and we are proud to jointly lead the planning, development and construction in the area.”
Assaf Simon, CEO of Africa Urban Renewal: “We are proud to take part in realizing the potential in the city of Netanya. The city, which is an attractive real estate destination, has been on a significant growth trend in recent years, thanks to the professional team in the city who see eye to eye the need for intensive development of urban renewal projects. The designated project continues the construction momentum of the Africa Urban Renewal Company in the city, starting with Sabioni City Netanya, a project The first construction eviction in the city, through projects of hundreds of additional units in the regenerating Nordau neighborhood, on Pinchas Levon and Zalman Shnior Street. The decision of the local committee to recommend the deposit of the plan constitutes a significant step on the way to the realization of the project, located in the complex that is expected to be the new city center of Netanya. The extensive scope of signatures and the speed of joining indicates the deep trust in the partnership between Africa Urban Renewal and Beit and Roof and in the shared capabilities.”
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