Israel Europe has completed a series of successful bids in resident tenders in the city of Bat Yam and is announcing the formation of one of the largest urban renewal complexes in the city center - along the Uziel-Daniel-Hareshet streets corridor. The company has won four separate tenders, which together will lead to the establishment of approximately 550 new housing units in modern low-rise buildings, with a total projected sales volume of about NIS 1 billion.
The entire project will be marketed at prices starting from NIS 2.5 million for a 3-room apartment. Israel Europe will manage the four sites through integrated planning in cooperation with the Urban Renewal Department of the Bat Yam Municipality, as part of the comprehensive "Bat Yam 2050" plan that was recently approved by the city council.
According to Elad Ifargan, CEO and owner of Israel Europe: "Winning the four tenders - each of which ran separately and in all of which we were unanimously selected - is a significant achievement. We will lead a high-quality project in the heart of Bat Yam, while preserving the city’s unique character and meaningfully enhancing quality of life."
The current move includes two new tenders:
• The first site, at 18–20 Uziel St. and 25–29 Hareshet St., will cover an area of 2.6 dunams. It involves the demolition of 64 existing units and the construction of 175 new units across three buildings of up to nine stories. The sales volume is estimated at around NIS 340 million.
• The second site, at 24–26 Uziel St., spans one dunam and includes the demolition of 24 existing units and the construction of 65 new units in a similar building. The expected sales volume is approximately NIS 105 million.
Both sites enjoy a clear locational advantage: just 450 meters from the light rail’s red line and about 900 meters from the beach, combining transportation accessibility with urban quality of life.
These new developments join two other projects previously won by the company along the same corridor - one at the corner of Daniel and Uziel Streets, and the other at Rabbi Uziel and Hareshet Streets. In total, 207 existing units will be cleared to make way for approximately 550 new ones.
"For us, this is a direct continuation of the company’s strategy: to operate in areas with structured urban renewal plans and with the support of a municipal administration that accelerates the process," Ifargan concluded.