״Nachalat HaZvi״ 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 with residential zoning for the various communities of the general sector; planning for high-density development, including residential buildings 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, parks, and even a large, assisted living complex for seniors
Product and costs:
Size of right to land: 100 square meters (gross).
Cost of land fees: ILS 145,000
Management fees, legal support and registration for the purchase phase: ILS 55,800 + 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 and credits on proportional rights following the City Building Plan’s ap
proval, this data can be presented:
The total costs of a 5-room apartment with an average size of 121 sqm + storage unit and service areas + a 14 sqm balcony, amount to ILS 950,000 only!
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.
