The Shoval Group won another tender from Rami in the Haredi settlement of Rechsim in the north.
The group will build 74 housing units on a plot of land measuring approximately 11 dunams, and another 74 units as part of the 'Target Price' project, tailored to the Haredi population.
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As part of the project that Shoval won, 3, 4, and 5-room apartments will be built, tailored to the Haredi public, half of which will be at a target price and half will be sold on the free market.
In exchange for the win, Shoval will pay RMI approximately 33 million shekels, including development work.
This is the third project that the Shoval Group has won in the Rechsim settlement.
Yishai Roth, CEO of the Shoval Group: "We believe in the Rechsim settlement and the increasing demand for it due to its strategic location on Highway 6. This is a strong community settlement - and as evidenced by the rapid pace of apartment sales there and the price level rising steadily over the years as the settlement develops.
""As with all of the group's projects, Shoval is both the developer and the construction company of its projects, which helps us provide an effective response to the needs of different and diverse populations.".
The settlement of Rechsim, established as a transit camp in the 1950s, currently has about 15,000 residents, most of them Haredi. In 2019, the Haifa District Planning and Construction Committee approved a master plan that will increase the settlement's population to 35,000 in the future.
These days, the Shoval Group is really starting to market another project that the company won - 'Shoval in the Ridges.' This is a tender that the group won in early 2024 to build about 200 housing units in seven buildings, in the Givat Al-Harsa neighborhood.
According to Ortal Harosh, Sales and Urban Renewal Manager at the Shoval Group, 5-room apartments are more common in the community and the price of such an apartment on the free market in the Shoval project in Rechsim will be approximately 2.3 to 2.5 million shekels, and 4-room apartments are marketed at prices ranging from 2.2 to 2.1 million.
Another project by the Shoval Group has already been occupied and includes 4 buildings and 124 apartments.
