According to the 2023 planning administration data, nearly 50% of all approved projects in committees are part of urban renewal plans, but project implementation on the ground is delayed
Adv. Dana Biran, Partner and Head of the Urban Renewal Practice at our firm, explains: “For many years, the Israeli market has been accustomed to a reality of low interest rates and consistent price increases, leading to the approval of many urban renewal plans with limited economic feasibility. The rise in interest rates and the slowdown in sales following October 7th have restored some caution that we had lost, showing that the market can behave differently.”
For the full article please click here
Adv. Dana Biran, Partner and Head of the Urban Renewal Practice at our firm, explains: “For many years, the Israeli market has been accustomed to a reality of low interest rates and consistent price increases, leading to the approval of many urban renewal plans with limited economic feasibility. The rise in interest rates and the slowdown in sales following October 7th have restored some caution that we had lost, showing that the market can behave differently.”
For the full article please click here
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