Rakafot Neighborhood in Beersheba flourishes: 682 apartments successfully marketed

A new neighborhood emerges: a major success in real estate marketing as part of a target price tender in the Rakafot neighborhood in Beersheba. The Israel Land Authority and the Ministry of Construction and Housing announced yesterday the winning companies for the construction of 682 residential units, including 205 at a target price, in 6 complexes in the neighborhood.

The winning companies will pay approximately 159 million shekels in total, including development costs. The 205 apartments to be sold at a target price will be offered at a discounted rate between 33% to 36% below market price. According to estimates by the Israel Land Authority, the starting price for a 94 sqm apartment will be 844,000 shekels; for a 109 sqm apartment, 979,000 shekels; and for a 129 sqm apartment, 1,197,000 shekels.

Introducing the New Rakafot Neighborhood

It should be noted that the Rakafot neighborhood is being built under umbrella agreements. Upon completion, the neighborhood will include approximately 4,000 housing units, with 2,600 of them being attached houses, 750 units in graded construction, and around 800 units in 6-story high-rise buildings along Rager Boulevard. 

So far, hundreds of plots have been marketed in the neighborhood for the construction of attached houses, and additional tenders will be published by the end of the year for hundreds more units, available to both developers and private individuals interested in building homes in the neighborhood under the "Build Your Own Home" scheme. 

Alongside residential units, educational institutions from early childhood to high school in advanced facilities will be established in the neighborhood. Additionally, a community center, communal spaces, parks, and public gardens will be developed to cater to all age groups with enrichment programs and activities. In the southern part of the neighborhood, near the Toto-Turner Municipal Stadium and the Concha Congregation Hall, a leisure and recreational complex - Century Club with swimming pools will be constructed to serve the neighborhood and the northwest of the city.

"The success of the plots proves the trust of developers in the city"

Beersheba Municipality congratulates the auction results. Ruvik Danilovich, Mayor of Beersheba, added: "I congratulate the success of this marketing move under Beersheba's umbrella agreement. The cooperation with the Ministry of Housing and Israel Land Authority has proven itself. In a complex and challenging period for the South, the success of the land marketing demonstrates the confidence of developers in Beersheba. We will continue our mission to strengthen Beersheba as a leading metropolis in Israel."

Furthermore, the municipality notes that HACL - the Economic Society for Development in Beersheba, has already begun implementing the umbrella agreements and development works in the Rakafot neighborhood, with planning soon to commence for educational and various public facilities, along with development work for public parks and recreational gardens. Thus, when the initial residents move into the neighborhood, it will already provide them with a quality of life and all necessary services in the new neighborhood.