A record financing package has been approved for 100 detached housing units in the new Neve Chen neighborhood, located in the northwestern part of Hatzor HaGlilit, on land adjacent to the tomb of “Honi HaMa’agel.” This is a highly sought-after area among homebuyers seeking to upgrade from apartments to private houses, including residents from outside Hatzor, as well as investors and Jewish communities from the United States.
According to data from the Israel Tax Authority, over the past six months the average price of a five-room detached house in Hatzor HaGlilit stood at approximately NIS 2.18 million.
The developers acquired the land about four months ago in an Israel Land Authority tender, for a total of around NIS 40 million. The tender attracted 19 bids, illustrating the strong demand in Hatzor HaGlilit, which has been undergoing a major transformation in recent years - including the planning of thousands of housing units, new commercial and employment areas, a railway station approved at the city’s entrance that is expected to connect the north with the center of the country, and extensive government investments, some of which are already being implemented on the ground.
According to the zoning plan, the neighborhood covers an area of approximately 50 dunams and will include a total of 144 housing units. Eight units will be built on each two-dunam lot in three-story buildings, and 14 units will be built on each one-dunam lot in seven-story buildings with a block-style design. The average net density is estimated at about 5.8 housing units per dunam. The neighborhood’s design took into account the surrounding development plans, creating connections that serve both the neighborhood and its wider environment.
Representing Yesodot in the transaction were Maya Avekasis, Shir Somekh, and Attorney Nir Zanzuri.
Attorney Eyal Blecher-Cohen, CEO of Yesodot Group, stated:
“We see great importance in encouraging developers to promote projects in remote peripheral areas, which is why we are active in many such communities - including Katzrin, Hatzor HaGlilit, Kiryat Shmona, and all the way to Eilat. Although these are peripheral areas, the demand for housing in these locations remains very strong and shows a different trend from what we are currently seeing in the high-demand areas of central Israel.”