When the land at Pisgat Ze’ev is rezoned, the price per meter will jump.
Land prices in Pisgat Ze’ev have been on the rise for several years.
Meny Group is marketing the land planned to undergo a short settlement process planned during 2024-2025
The buyers are partners in a unique investment opportunity and will pay only purchase tax and are exempt from paying the Betterment Levy.
The project is planned with high standard construction specifications and with the professional conduction of the “Dvir-Yehiam” architectural office.
* The land is not available for immediate construction
10 min drive to the city centre
Mountains and lush green landscapes
Rich community life
High-density construction on the outskirts of Jerusalem
Lands in the process of rapid rezoning
The unique project in Givat Ze’ev, led by Meny Group, is a high-density construction project considered one of the leading and luxurious projects to be built in the Greater Jerusalem area.
High-density construction is construction aimed at maximizing the utilization of land reserves, in contrast to other real estate projects that promote the construction of single-family homes and private homes. This method of construction is intended to meet the existing need in quite a few areas in Israel, where land reserves are limited, in contrast to the great demand for apartments from young couples, certainly in a community like Givat Ze’ev, where most of the residents are from the ultra-Orthodox and national-religious public.
The land sold in the project is in advanced rezoning proceedings intended for shortening the time rezoning usually takes, and it is now being sold at a price significantly lower than its future value, when it will be rezoned for construction. Real estate experts in the Jerusalem area predict that these lands will benefit from a substantial price increase of hundreds of percent in the coming years.
Alongside the fact that this is a project that is supposed to yield buyers a broad and significant return in the future, buyers enjoy a number of additional advantages that are important to know, with the main point being the constant increase that exists in the locality in the value of real estate, which has increased in the past five years in apartments of 3-6 rooms (see attached data from the real estate website GOV).
Alongside the fact that the community has a constant increase in the value of apartments, Givat Ze’ev is a community in which residents enjoy a wide range of services, including, as of 2018, according to GOV real estate data, 24 public institutions, 18 community frameworks and 19 religious institutions, including synagogues, beit midrash and mikvehs.
The project itself allows the buyers to enjoy payment of purchase tax on the land only, without additional payment on the other components, avoiding payment of betterment levy which constitutes a government tax on profits from land (also from rezoning) of no less than 50% of the expected profit. Another big benefit is the execution of a significantly shortened rezoning process led by the local committee and the Supreme Committee and without a district committee as exists in most different places in the country that directly affects the time it takes to complete the rezoning. High-Standard construction specifications, with professional guidance from Dvir-Yehiam Architects.
Planning and rezoning rights expected within – 12-24 months:
Cost of purchasing land (100 meters) from 3500 NIS per square meter
Value after obtaining rights
Purchase tax NIS 21,000
Cost of attorney’s fees 5,000 NIS
Total investment NIS 374,000
Value of right to apartment NIS 800,000
Planning costs after obtaining rights NIS 35,100
Pre-tax profit ₪388,900
Construction period estimation 25-48 months:
Construction costs for an apartment of 100 meters at 6000 ₪ per square meter
NIS 1,800,000 Apartment value on paper
Ready Apartment Value (Property Value): NIS 2,150,000
Pre-tax profit ₪1,138,900
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