Haim Feiglin (Photo by Kfir Sivan)
Tzemach Hamerman, the real estate company controlled by Haim Feiglin, Avi Ben Avraham and Ran Ben Avraham, today reported to the Tel Aviv Stock Exchange on sales of 517 housing units in 2021 in the company’s various projects with a total financial volume of NIS 1.802 billion.
These are binding sales agreements that it has signed itself or through investee corporations or joint ventures with third parties. The total price of sales reflects an average price per unit of approximately NIS 3.486 million, of which the company’s share is approximately NIS 868 million.
The number of apartments sold in 2021 is a jump of 120% (2.2 times) compared to sales in 2020, which amounted to 235 apartments with a total volume of about NIS 581 million (about NIS 2,462 million per unit on average), of which the company’s share was about 329.5 a million shekels.
Tzemach Hamerman clarifies that the date of recognition of income is in the framework of the Company’s financial statements for 2021, in accordance with the accounting standard IFRS15. It also clarifies that this is forward-looking information based, among other things, on the sales data available to the company at the time of reporting, and the data may actually change.
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Haim Feiglin, CEO of Tzemach Hamerman: “We are pleased to conclude a record year in the company’s activity as reflected in the strong growth in all sales data and the average price per unit. The growth has been recorded in a variety of the company’s projects “To continue the increase in demand and housing prices in early 2022 and work to find opportunities for further growth.”
Tzemach Hamerman is a construction company that deals with the initiation and execution of large projects nationwide. The company is mainly engaged in saturated and mixed urban construction for residential, commercial and office uses, as well as in the execution of additional projects for leading companies in the Israeli economy itself and through the subsidiary (50%) Sivan Execution Ltd.
The group’s entrepreneurial activity focuses on prestigious and popular housing in Israel, as well as the construction of high-tech areas, commerce, offices and industry. The company’s contracting-performance activity for selected employers in Israel focuses on advanced construction methods and special projects nationwide. The company is in the stages of initiating, planning and executing 22 projects nationwide, with a total volume of more than 5,000 housing units and 43,000 square meters in commercial and office space.
At the beginning of 2022, the company began demolishing the Weizmann Pinkas complex in Tel Aviv and will establish a residential project in collaboration with the Rosio Group. Of course, the company is building in collaboration with Srugo an urban renewal project on the lake shore in the Ramat Gan National Park. The company has recently started marketing a long-term rental project in Carmiel, a residential project in Ramat Hasharon together with Israel Canada and will soon start marketing the Maccabi Jaffa project in Tel Aviv, which includes a price per occupant together with the companies Levinstein and Elad.
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