״Shvey Ariel – University Heights״ Group
Location: Ariel – the capital city of the Shomron, located approx. 15 minutes from Rishon LeZion, near Ariel University, Israel’s fastest-developing university. Planning vision: a new, prestigious and communal neighborhood with residential zoning for the university’s students and staffers, an impressively large group of almost 20,000 people.
Planning for high-density development, including residential buildings and “mixed use” dorms with a varied composition of 2.5, 3, 4, 5, and 6-room apartments, penthouses, a synagogue, Beit Midrash, public hall, commercial and employment areas, and parks.
Product and costs:
Size of right to land: 62 square meters (gross).
Cost of land fees: ILS 86,000
Management fees, legal support and registration for the purchase phase: ILS 70,800 + VAT.
The land is already registered with the Land Registry
The payment above is divided into milestones according to the progress of the planning and registration process with the authorities.
After receiving an appraisal report pursuant to Standard 22 and computing all costs and credits on proportional rights following the City Building Plan’s ap
proval, this data can be presented:
The total costs of a 3-room apartment with an average size of 82 sqm + service areas + balcony, amount to ILS 700,000 only!
What are the next steps after registration in 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: ynapmoc tnemeganam dna noitazinagro eht ;ecfifO yratoN dna waL uadnaL-nehoC״Power Finances״, Dabush-Jabes CPA Ofifce; 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.
