Av-Gad Group, engaged in residential planning, construction, and execution in the urban renewal market, is preparing to begin demolition and construction work on its new project at 16-18 Bnei Binyamin Street in Herzliya, after this morning the evacuation of the buildings by the 27 families living in the two buildings was completed. The buildings are scheduled to be demolished on September 17, in about two weeks.
In place of the old buildings, two new buildings will be constructed, including 67 new housing units, as well as parking basements and storage rooms. The work on site is expected to continue for approximately three years. Of the total units to be built, 40 units will be marketed, of which about 25% were sold in the pre-sale stage. All apartments in the project are new, built to a high standard with rich specifications. The project is located near the future underground metro line in Herzliya, which will be connected to the Dan metropolitan area’s metro network.
According to the company’s estimates in its Q2 2025 reports, total revenue from the project is expected to reach approximately NIS146.5 million (excluding VAT), with a gross profit expected to total about NIS 36.6 million.
Today, Av-Gad is advancing seven urban renewal projects across Herzliya, including approximately 700 new housing units in total.
These projects include locations on HaMa’ayan Street, in the Neve Israel neighborhood, in the El Al complex, alongside building renewal projects on Pinsker, Eli Cohen, and Sokolov Streets in Herzliya.
Since the beginning of 2025, Av-Gad has received four building permits for demolition and reconstruction projects – HaGeonim 6-8 in Holon (90 units), HaZohar 33-35 in Tel Aviv (58 units), Balfour 81 in Bat Yam (105 units), and Bnei Binyamin 16-18 in Herzliya (67 units).
Additionally, the company began execution of the project at Golomb 38 in Ramat Hasharon (23 units), which received a permit in December 2024. Evacuation notices have also been sent to residents in the Balfour project in Bat Yam and the HaGeonim project in Holon, with work expected to commence during 2025.
In addition to these, Av-Gad completed the project at Tzahal 59-73 in Kiryat Ono (TAMA 38/1), which includes 108 units, of which 44 are new apartments, and received occupancy approval last June.