״Giv’at Ze׳ev HaYerhuka״ Group.
Location: Giv’at Ze’ev (Local Council, soon to be declared a city in Israel) – a suburban town near Jerusalem, northwest of Ramot neighborhood, and a
15-minute drive from Modi’in.
Planning vision: a new, prestigious neighborhood of semi-detached houses. Each house sits on a 210-220 sqm plot with maximum building rights of 4 floors, including the basement, ground floor, first floor, and attic, divided into 9.5 rooms, with a total constructed area of 315 sqm. Product and costs
Size of right to land: 350 square meters (gross).
Cost of land fees: ILS 575,000
Management fees, legal support and registration for the purchase phase: ILS 78,800 + VAT.
The payment above is divided into milestones according to the progress of the purchase and registration process, with most of the payment being transferred only after the land is actively registered in the Land Registry under the name of the Special Purpose Company established for this project.
After receiving an appraisal report pursuant to Standard 22 and computing all costs, the total cost estimate for the models proposed in the Planning Vision is:
• Two-story semi-detached house (cottage), 6.5 rooms, 200 square meters total – approx. ILS 2.9 m
• Two-story semi-detached house (cottage), 9.5 rooms, 315 square meters total – approx. ILS 4.1 m
What are the next steps after registration with the Land Registry?
-Continued facilitation of the City Building Plan with all the competent approval bodies (the city building plan, in essence, transforms the area from agricultural land to land on which development and construction plans for housing and commerce can be facilitated).
– Following the approval of the City Building Plan, plots will be selected for the next phase, in the order of the project’s registration groups.
-Then, individual plans and permits are facilitated for development and construction, according to the planning vision, with the approval of the Group members.
-By the time permits are approved, we should already have an appraisal balance and unit pricing report, which prices each housing unit by size, floor, attachments, etc. At that stage, we contact a bank or financing fund to provide Group members with mortgages.
-Then, we move forward to the actual development and construction stages, and hold a tender for development and construction contractors. Payments
defined with contractors and other construction parties are paid according to development and construction progress; we always maintain collateral for stage completion, from the foundations stage to the delivery and inspection of apartment quality and standards stage.
Firms assisting the Group: Cohen-Landau Law and Notary Office; the organization and management company “Power Finances”, Dabush-Jabes CPA Office;
and other professionals and companies, e.g., architects, engineers, supervisors, traffic consultants, and landscape planners, will be hired at later points in
time, per the requirements of each stage, and in coordination via transparent protocols with the Group members.
