A new project in Ramat Gan marks a significant strategic move for the Granit Group, part of Effi Capital Real Estate, which recently won a residents’ tender for an urban renewal project on Bialik Street in the Hashmonaim neighborhood. According to the proposed plan, a complex of over 3 dunams, currently containing 49 residential units in six buildings from the 1960s, will be demolished and replaced by three new buildings in dense urban construction. The project is expected to include approximately 130 new apartments, along with an active commercial frontage and open spaces for the benefit of the residents.
According to the company, the building permit is expected to be obtained within about five years. Yossi Harari, CEO and owner of the Granit Group, emphasizes the importance of the project as part of the company's strategic shift: “The company is marking another significant achievement as it gains the trust of property owners in a new urban renewal complex in Ramat Gan. Until now, the company has focused solely on high-quality urban renewal in Tel Aviv, so this is an important deal as part of the new strategy – to operate in other areas of the Gush Dan region,” said Harari, adding: “I want to thank all the apartment owners for placing their trust in Granit. From here, the burden of proof is on us – until the successful completion of the project.”
The tender was led by Attorney Revital Solovey from Solovey Law Firm, in cooperation with the Elron Group, managed by Roni Shost, which served as the organizing company.