Ram Adret Group concludes a successful year: The group reports the sale of 475 new apartments across the country for a total amount of approximately NIS 904 million (the company’s share: Approximately NIS 814 million), reflecting a surge of about 200% in the sale of housing units compared to 2023. The company currently has about 1,500 housing units in various stages of construction and marketing (some in partnership with other developers). The projects with the largest number of apartments sold since the beginning of the year include the International Quarter in Lod at the Nir Tzvi intersection, Carmei Gat, and Adret Jerusalem in the Givat Hamatos neighborhood.
At the same time, the group reports progress in the construction of its projects. In the Adret Jerusalem project in the Givat Hamatos neighborhood, a full building permit was obtained for complex 2. Adret Jerusalem includes 342 housing units spread over 3 complexes and commercial areas covering about 1,100 square meters. The group began marketing the project in January 2024, and by the end of the year, approximately 52% of the apartments in the project were sold on the open market.
The Adret in the International Quarter project includes 400 housing units to be built in two phases, consisting of a total of eight 11-story buildings. A full building permit was obtained for the first plot, and the company has begun construction. Marketing of the project began at the end of 2023, and by the end of 2024, 190 housing units were sold.
In addition to the progress in existing projects, the group recently reported winning the Rami tender for the construction of 126 housing units in the East Shorak complex in Yavne, of which 101 units will be under the "Target Price" program, and 25 units will be in the open market.
Anna Fogel, VP of Marketing and Sales at Ram Adret Group, noted that "In 2024, we saw an impressive recovery in demand for new apartments. Despite the uncertainty in the market following the events of October 7, 2023, we decided at the end of last year to launch 'pre-sale' campaigns for new projects in Jerusalem and the International Quarter. The quality and location of the projects, and the expectation that housing prices will continue to rise, served as a significant catalyst for sales, and the decision to launch marketing during this challenging period proved itself."
Fogel added that "In 2025, the company intends to continue its growth strategy and focus on new projects, mainly in the second and third rings around the central region, anticipating that demand in these areas will remain stable and housing prices will continue to rise. The company strongly believes in the city of Yavne as a growing city and expects strong demand in the new neighborhood."