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February 11, 2016 / 2 Adar I, 5776

Posts Tagged ‘Real Estate’

Trend: Israeli Businesswoman Shari Arison Buying 1,000 Berlin Rentals

Tuesday, October 6th, 2015

(JNi.media) American-born Israeli businesswoman Shari Arison, considered Israel’s wealthiest woman, has completed the purchase of as many as 1,000 rental apartments in Berlin, in an overall deal worth $145 million, several Israel newspapers reported Tuesday.

ADO Properties, a Frankfurt exchange subsidiary of ADO Group, a real estate company listed on the Tel Aviv Stock Exchange, which is a subsidiary of the Shikun & Binui construction Group, controlled by Arison, has finalized a deal over the Sukkot holiday to pick up a 95% ownership in between 885 and 1,000 housing units. The units, built for rental, are located in Prenzlauer Berg, in the southern part of the borough of Pankow; Kreuzberg — one of the best-known areas of central Berlin; Neukölln, located in the southeastern part of the city, formerly part of the American sector; and Pankow, in north Berlin.

The average annual rental on these apartment is $7 million. ADO Properties will be funding the deal out of its large cash holdings.

Shari Arison was born in New York, the daughter of the businessman Ted Arison and Mina Arison Sapir. In 1966 her parents divorced, and she moved to live with her mother in Israel. At age 12 she returned to the US to live with her father, and five years later came back again and enlisted in the IDF.

In 1999 Arison inherited from her late father 35% of his possessions, and four years later she was the subject of major protests after firing 900 employees of Bank Hapoalim.

Berlin has been a popular destination for Israelis for more than a decade. The German website israelisinberlin.de has written recently that “more and more Israelis leave their homeland for Berlin. The reasons may be financial, personal or political, but the basic factor is that a growing group finds that life in the war-mongering right wing government of Israel is unbearable. Cheap, multicultural Berlin attracts a growing Israeli population.”

No Longer Just a Dream: Construction in Ramat Givat Zeev in Full Swing

Tuesday, September 22nd, 2015


Development work for the brand new Ramat Givat Zeev neighborhood, located in the outskirts of Jerusalem, is in the final stages of completion. The upscale project is well underway, as buyers will be able to move into their dream homes in this great community within 24 months.

The project, which has already been dubbed the “Orthodox Caesarea”, has seen rapid development and acclaim. Hundreds of families in Israel and from abroad who have already purchased apartments are waiting with anticipation as they watch their dream home being built.

Building the project situated above the new Givat Zeev neighborhood to provide maximum views, Nofei Israel has invested 40 million NIS in the development and plans to invest a total of 750 NIS in the project.

The neighborhood boasts 370 housing units of different styles to fit the diverse needs of this new community. There will be 130 private homes ranging in size from 250 to 450 square meters. There will be 240 apartments in 13 luxury apartment buildings that include 3, 4, 5 and 6 room apartments, garden apartments and penthouses.

The project’s 234 large and luxurious units mostly sold out during the preliminary development stage. Anyone who has already purchased, or is planning to do so in the near future, is taking advantage of the opportunity before the expected rise in prices. According to real estate industry experts, unit prices will rise at least 30 percent in the coming months because of the project’s demand and building specifications. All building permits have been issues and the work on the project is moving ahead quickly.

Ramat Givat Zeev will be an upscale, Torani community built to include high standards of construction and infrastructure. Modeled after homes in affluent Orthodox communities abroad, the homes and apartments in Ramat Givat Zeev will be beautifully finished. The gated community will include shuls with frequent Torah shiurim for men and women, mikvaot and chinuch institutions. Joining the community are several families making Aliyah together from North America.

In addition, the neighborhood will feature wide streets, walking paths and LED street lighting. There will several expansive green spaces, parks, gardens and playgrounds, as well as fountains and sports clubs. A shopping center and country club are being planned.

The neighborhood will blend Torah living, with modern recreational and commercial centers, complete with all communal services and amenities. Ramat Givat Zeev is bound to be a magnificent, dream-come-true community.

Donald Trump Running to Be ‘Greatest President God Ever Created’ [video]

Tuesday, June 16th, 2015

Donald Trump, the billionaire real estate developer, casino owner, entertainment mogul, TV personality and father of a woman who converted to Judaism and says she observes Shabbat, tossed hit hat into the huge ring of Republican candidates for president Tuesday.

He probably holds the record for being the most frequent “almost candidate,” having hinted several times in the past he would run for president.

This time it is for real. He said in his announcement in a 45-minute speech in New York:

I am officially running for president of the United States, and we are going to make our country great again. Sadly the American dream is dead. But if I get elected president, I will bring it back bigger and better and stronger than ever before.

He boasted his net worth at $8.7 billion, twice the amount estimated by most sources, and said:

I’m really rich. I’m not doing that to brag. I’m doing that to say that’s the kind of thinking our country needs. We need that thinking. We have the opposite thinking. We have losers…. The greatest social program is a job.

Trump went on to state, without batting an eyelash:

I will be the greatest jobs president that God ever created.” I’ve watched the politicians, I’ve dealt with them all my life. They will never make America great again. They don’t even have a chance.

Polls show that Trump has a chance to win the Republican nomination, but he still is a long shot. He loves Israel, but it is questionable if American Jews love him. He has made statements disparaging blacks and Hispanics, so he can forget about most of them for support.

What might really be interesting is if he does not win the Republican nomination but runs as an Independent. third-party candidate. That would make for the most interesting presidential election since former Alabama governor and segregationist George Wallace’s four pitches for the presidency, earning him the description of America’s “most influential loser.”

Trump, like Wallace, is a gadfly and shoots from the hip, something like an American version of Israel’s Avigdor Lieberman before he got too smart for his own good. Trump has sworn up and down that President Barack Obama did not fulfill a basic qualification for the presidency by being born in the United States. Trump’s constant jabs at Obama, along with those of other “birthers,” finally forced the president to produce a birth certificate. Of course, the hard-core birthers said it was a fake.

Trump’s name is plastered on a variety of industries, from real estate to wrestling, media, golf course, a chartering company, ice cream parlor, a line of men’s wear, vodka, books, steaks and a golf course.

Being a maverick gives him the image of sticking by his word. When he says he loves Israel, he puts his money where his mouth is. Trump has a huge real estate project in Netanya, and his daughter Ivanka, who converted to Judaism, looks favorably on Israel for real estate investment.

Her husband is from an Orthodox Jewish family, and she has taken her conversion seriously, adding “Yael” to her name and saying that “we’re pretty observant, more than some, less than others.”

If “the Donald” is elected president, the United States will have its first Jewish daughter in the White House.

Her father hates President Obama with a passion and has said that he is Israel’s greatest enemy. Trump also is a fan of Prime Minister Binyamin Netanyahu.

Below are three videos. The first one includes parts of Trump’s speech today, the second one is from 2013, when Trump endorse Netanyahu for Prime Minister. and third is of Ivanka’s visit to Jerusalem in 2008.

Jerusalem Heights 2-Day Sale Event in New York

Thursday, April 16th, 2015

Due to the unprecedented demand amongst buyers who have expressed interest in purchasing a variety of high-quality apartments within the much-talked about Jerusalem Heights real estate complex, the project’s head sales manager will be visiting New York for a few days and will be hosting a special 2-day sales event in Brooklyn on Sunday April 26, and Monday April 27, 2015.

Jerusalem Heights, located in the much sought after Romema neighborhood, highlights five impeccably designed buildings, spread out over 3 acres at the most elevated point in the area, offering future residents breathtaking panoramic views of the city and the Jerusalem mountains.

“We have had a tremendous response from a lot of quality Charedi families, including Anglos who live in Israel, and buyers from New York, Toronto and London who wish to invest in either a future home in Israel to reside in or as a residence for their children or to rent out,” said Yehuda Goldschmiedt, Jerusalem Heights Sales Manager.

The 2, 3, 4 and 5 bedroom apartments in Jerusalem Heights highlight meticulous design and a superior level of technical specifications, including subfloor heating, central air conditioning, a Sukkah balcony, storage room, private parking for residents, and a large park and playground for children. The project also features a limited number of garden apartments and spectacular penthouses. Furthermore, Jerusalem Heights architectural staff will build the interior of each and every apartment according to the specifications of each buyer’s preference.

The special 2-day event will take place in the offices of Schmidt Realty Inc.: 1225 McDonald Ave. Brooklyn, NY 11230, Tel: (718) 853-HOME(4663).

The Development Trend and Demand for Apartments in the Revived Center of Jerusalem

Thursday, February 12th, 2015

New York, Madrid, Prague, and many of the world’s greatest cities have recently made the decision to restore their historic centers to their former glory and attract residents back to the vibrant heart of the city. They have instigated a revolution of renewal, together with the immensely successful development of residential projects. The construction boom in Jerusalem’s city center shows that Israel’s capital will not be left behind, as it has now become home to a wealth of residential real estate being offered by major developers.

Even today, anyone who visits the Nahalat Shiva or Downtown Triangle areas of Jerusalem can sense their reawakening: a construction frenzy has gripped the heart of Jerusalem, and the Jerusalem municipality is promoting the fact that much of the area will undergo a ‘pinui binui’ urban renewal process that will present a more appealing appearance while taking care to retain the city’s unique ambiance. The municipality is not only investing in the renewal of Jaffa St. but also the alleys leading to it, such as Havazelet St., which will be transformed one by one into clean, quiet, and shaded pedestrian zones. Soon, according to the municipal plans, the light rail will complete the picture, and the heart of the capital will be restored to its time-honored splendor.

Africa Israel Residence Outside


These significant steps are being accompanied by the cleaning and improving of building facades and shop windows, while the municipality is also encouraging cultural and educational institutions to return to the city center.

Efforts to revive Jerusalem’s city center are reflected in the number of new immigrants who choose to make Jerusalem their home. According to the Central Bureau of Statistics, many of them are choosing to make Jerusalem their primary residence, compared to other major cities in Israel. During 2014 there was a rise in immigration to Israel as the rate of new immigrants increased by 32% compared to 2013. Jerusalem is among the leading cities in terms of immigrant absorption, and the percentage of immigrants opting to live there is approximately 11%, or around 2,878 new immigrants.

Liat Danino-Israeli, VP Sales & Marketing, Africa Israel Residences:

Africa Israel Residences, Israel’s leading real estate company and part of AFI Group, specializes in the development and construction of residential complexes of an exceptionally high standard, and is currently marketing three exclusive residential projects in Jerusalem’s bustling city center. Each of the company’s Jerusalem projects offers a dynamic, multifaceted daily routine, as well as comfort and quality of life. All of these Africa Israel Residences projects are within walking distance of the holy sites and entertainment areas, and residents enjoy all the added value of Jerusalem, just outside their front door.”

“Jerusalem’s inner city forms a religious, spiritual, and cultural melting pot that addresses the needs of the target audience – foreign residents, who usually prefer to purchase apartments in the holy city. In fact, according to our sales offices, approximately 55% of apartment buyers in these projects are Jewish overseas residents and we recognize a continuing upward trend in terms of demand within this market segment.”

“In the past, overseas residents were looking for small apartments solely for investment or vacation purposes. However, this trend has now changed, and the demand is for large 4-bedroom apartments suitable for families. Most of the apartments within Africa Israel Residences’ Jerusalem projects – 7 Kook St., Savyon View and HaNeviim Court – have been purchased by traditional, affluent overseas residents from various countries: France, USA, Russia, and Canada. Those buyers attach sentimental value to residences in Israel, so they intend to live here themselves.”

Jerusalem: 7 Kook St.:

A gated apartment complex of particularly high construction standards, located in the renewed heart of the city. The project is located adjacent to Rabbi Kook House, home to Israel’s first Chief Rabbi during the early 1900s, and the Ticho House museum, named after the famous ophthalmologist and his artist wife who once lived there. The complex includes 131 luxury apartments with a range of layouts, including 1, 2, 3.5 and 4-bedroom apartments, as well as penthouses featuring stunning modern designs.   Sample apartment prices in the 7 Kook St. project:

 3-bedroom penthouse (provided in shell condition) on the 8th floor of 8, with an area of 156m2 + 35m2 balcony in the 7 Kook St. project: approx. NIS 7.75 million.

4-bedroom penthouse (decorated – includes everything!) on the 8th floor of 8, with an area of 243m2 + 47m2 balcony in the 7 Kook St. project: approx. NIS 17 million.  Jerusalem: HaNeviim Court

Located in the historic center of the city, at the corner of Heleni Hamalka and Monbaz Streets, this exclusive project is close to HaNeviim Street (the Street of the Prophets), one of Jerusalem’s most impressive thoroughfares.The project includes more than 140 apartments of 1-3 bedrooms as well as prestigious penthouses with views of Jerusalem’s Old City and the Western Wall, above a 70-room boutique hotel and commercial center.

 Marketing of the project has begun, and residents will begin to move in once the marketing period has ended.  Sample apartment prices in the HaNeviim Court project:

 1-bedroom apartment on the 7th floor of 8, with an area of 60m2 + 7m2 balcony in the HaNeviim Court project: was sold for approx. NIS 1.9 million.

2-bedroom apartment on the 6th floor of 8, with an area of 86m2 + 13m2 balcony in the HaNeviim Court project: was sold for approx. NIS 2.94 million.

3-bedroom apartment on the 6th floor of 8, with an area of 111m2 + 12m2 balcony in the HaNeviim Court project: was sold for approx. NIS 4.15 million.  

 Jerusalem: Beit Mapai (Savyon View):

 A unique complex of great historical significance, located at the intersection of King George and Jaffa Streets.

The residential tower will comprise a total of 170 apartments, in a variety of layouts including 1, 2, 3 and 4 bedrooms.

 Marketing of this project is expected to begin during 2015.  

 Sample apartment prices in the Savyon View project:

 1-bedroom apartment with an area of 52m2 + 4m2 balcony in the Savyon View project: approx. NIS 1.731 million.

2-bedroom apartment with an area of 85m2 + 12m2 balcony in the Savyon View project: approx. NIS 2.8 million.

3-bedroom apartment with an area of 103m2 + 8m2 balcony in the Savyon View project: approx. NIS 3.8 million.  

Additional details:

 Dalia Azar-Malimovka | Spokesperson

AFI Group

Tel:    03-5393686

Fax:   03-5393655

Cell:  052-6678360


Proposed Bill: 90% Mortgages for Young Couples

Sunday, November 2nd, 2014

Avigdor Liberman’s Yisrael Beteinu party has proposed a bill that will actually have a positive effect on the Real Estate market in Israel, targeting young couples who are potential first-time home buyers.

The proposal would permit young couples purchasing their first apartment, whether from a contractor or on the second hand market, to be able to get a 90% mortgage from the bank.

Currently, new buyers need to put up at least 25%-30% of the capital, which puts buying a home out of reach of many people, especially those from lower socio-economic levels, who don’t have parents who can put up that money for them.

This bill, initiated by MK Orly Levy-Abekasis, the daughter of former Israeli minister David Levy, would make buying a first home within reach of the younger, working class market.

MK Orly Levy-Abekasis told JewishPress.com,

“Until now young couples couldn’t get mortgages without having family members help them, or taking out expensive loans elsewhere if the family couldn’t help. We’re talking about people with respectable salaries, but who couldn’t save up the 30% capital required.

These people will never be able to buy an apartment in Israel.

With this bill, the state will provide guarantees to the banks for the amount above 70%. This bill will help young people in both the center and periphery of the county.”

The bill is a responsible one, requiring both partners to have jobs and can show they can afford the mortgage they’re applying for.

The bill is being sent to the Ministerial Committee for Legislation on Sunday.

The law would be a major step forward in promoting home ownership in Israel.

Rents in Israel can be just as high as mortgage payments, and most renters in Israel have substandard protection under the law.

It is not uncommon for renters to be told to move out after a few years of renting, so the owner’s children can move in instead.

Of course, if the government wanted to really lower apartment prices there are other steps it can take.

The most obvious is building more homes in the settlements, as there is a lot of room for growth in existing settlements and new settlements, where housing prices are already cheaper. Many settlement are well within commuting range of Israel’s major business centers.

Numerous Associates Sentenced to Prison with Former PM Ehud Olmert

Tuesday, May 13th, 2014

Several other associates of former prime minister Ehud Olmert were sentenced to prison Tuesday and fined millions of shekels, along with the ex-politician.

Of 13 top public officials and business leaders who were charged in the affair, 10 were convicted on March 31 of charges of bribery, moral turpitude, money laundering and more.

The guilty sentenced today (Tuesday) were:

Dan Dankner,  former chairman of Bank Hapoalim, Israel’s second largest bank. He is currently joint chairman of Israel Salt Industries. Dankner was convicted on charges of offering hundreds of thousands in bribes to rezone the land on which the Holyland complex is built. Dankner was sentenced to three and a half years in prison and fined NIS 1.5 million.

Hillel Cherney, developer of Holyland, the residential complex project that started the nightmare in the first place. He was convicted on 19 charges of corruption and additional charges of breach of trust.  Cherney was sentenced to three and a half years in prison and fined NIS 2 million.

Avigdor Kelner, another developer of Holyland. He was convicted of two charges of corruption. Kelner was sentenced to three years in prison and fined NIS 1 million.

Meir Rabin, a real estate developer. He was charged with mediating the bribery between developers and government officials for Holyland. Rabin was sentenced to five years in prison.

Uri Sheetrit, a former Jerusalem municipal engineer. He was charged with taking bribes. Sheetrit was sentenced to seven years in prison.

Eliezer Simchayoff, a Jerusalem city council member. He was convicted on two counts of bribery and immediately suspended himself following sentencing, pending the outcome of his appeal.  Simchayoff was sentenced to three and a half years in prison and fined NIS 300,000.

All are expected to appeal to the Supreme Court within a few days.

Others convicted but not sentenced today are:

Shmuel Dachner (deceased), before his death in March 2013 represented Holyland real estate developer Hillel Cherney. Dachner turned state’s witness and gave testimony that formed the core of the case against most of those convicted in March.

Shula Zaken, former top aide to Olmert. Zaken was convicted on charges of corruption and was closely associated with nearly everything the former mayor, minister and prime minister did. She made a plea bargain arrangement with the state that has reportedly led to a prison term of 11 months. She will be formally sentenced this coming Thursday, May 15.

Uri Lupolianski, was assistant mayor to then-Jerusalem mayor Ehud Olmert and then succeeded him in the post. He was convicted on charges of offering  bribes to rezone the land on which the Holyland complex is built. Lupolianski, in poor health, will be sentenced on June 9.

Fines are to be paid in 10 installments, according to the court decision.

Printed from: http://www.jewishpress.com/news/breaking-news/numerous-associates-sentenced-to-prison-with-former-pm-ehud-olmert/2014/05/13/

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