No Result
View All Result
  • Login
Thursday, August 27, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Business

Tel Aviv set to approve 5,000 new homes for city center

by FeeOnlyNews.com
3 months ago
in Business
Reading Time: 4 mins read
A A
0
Tel Aviv set to approve 5,000 new homes for city center
Share on FacebookShare on TwitterShare on LInkedIn


The building plan for central Tel Aviv, which will add thousands of new apartments to the city, is nearing approval. The Tel Aviv-Yafo Municipality has decided not to oppose the cancellation of the rights restriction in rova’im (quarters) 5 and 6, and the plan is expected to move on to final approval. The municipality still has a list of other objections to the District Committee’s latest decisions, but these are not expected to be dramatic or to delay the plan’s approval.

The Tel Aviv-Yafo Municipality estimated that the original plan, as submitted to the District Committee before the latest amendments, was expected to add 4,200 new apartments to these quarters. Now, with the removal of the building rights restriction, estimates that the number of apartments will increase by 20%.

More than a decade of discussions

The plan for rova’im 5 and 6 extends covers 1,680 dunams (420 acres) in the city center. The historic area of rova 5, most of which is included in the UNESCO World Heritage Site (the White City), is between the sea and Yehuda Halevi Street, Menachem Begin Street, Carlebach Street, Jaffa Street, Eilat Street, Marmorek, Ben Zion Boulevard and Bograshov Street. Rova 6 to the east is between Shaul Hamelech Boulevard, Netivei Ayalon, HaRaveket Street, Carlebach and Menachem Begin Streets.

The plan has been in the planning pipeline for many years, and in fact, discussions began in 2014, with the announcement of the preparation of the plan and with restrictions on issuing building permits, according to sections 77 and 78 of the Planning and Building Law. The plan was only submitted in December 2022 by the local Planning and Building Committee, and in December 2025, it was submitted to the District Committee. Three months ago, the District Committee, after hearing objections, published a series of amendments, one of which was particularly dramatic: the cancellation of the construction percentage limit specified in the plan.

The assessment was that the municipality would oppose this decision, since the district committee is effectively forcing the municipality to increase the building rights in the plan, even though these are limited, due to the strict conservation provisions in the White City district. However, in detailing the objections brought to the local committee for discussion this week, the municipality said that it would not oppose the increase in rights. The increased rights was the most significant of the new decisions made by the District Committee, and so opposition in the current “round” of discussions will be more minor, which paves the way for the plan to be approved in the near future.





RELATED ARTICLES




Redevelopment plan for Tel Aviv’s heart nears approval


Planning c’ttee approves Kikar Atarim redevelopment plan






“The scope of rights will change”

The plan for rova’im 5 and 6 is the third plan of its kind in Tel Aviv-Yafo to be approved, after rova’im 3 and 4 were approved a few years ago, allowing major development, especially in rova 4. With the approval of this plan, the beginning of major development in the heart of the city will be possible.

Land appraiser and lawyer Erez Cohen says, “The District Committee did not completely remove building restrictions, of course that cannot happen. But the mere removal of the original building restrictions is expected to greatly assist in the implementation of the plans in these areas.”

“In my assessment, even in rova’im 5 and 6, where possible, there is justification for the decision not to remain within the limits (Amendment 139). Even before the restriction was removed, the building rights granted by the plan were more than 300,000 square meters, and now there will be more. I assume that the municipality estimates that with the previous restrictions, another 20% of apartments can be added following the removal of the restrictions, which is an addition of hundreds of apartments. This is a decision that changes the scope of the rights in the plan from end to end.”

This provides potential for increasing the supply of apartments in a challenging period. In recent years, Tel Aviv has been dealing with major slowdown in the pace of apartment sales. The “stock” of unsold apartments in the city is currently at record levels, around 10,000 new unsold apartments over the past few months. The addition of new apartments in rova’im 5 and 6 will escalate the challenge and may increase the unsold stock.

Decision expected soon

The Tel Aviv Municipality’s decision not to oppose the cancellation of the rights restriction is significant, but it has filed objections to 36 sections in the District Committee decision. Among other things, the municipality requests that the parking standard for homes not be less than 0.5 (parking for every 2 units) and wants that in the “heart of the city” the number of floors will be six plus an attic floor, instead of 6.5 floors. These are minor objections, which will not delay approval of the plan.

Published by Globes, Israel business news – en.globes.co.il – on May 28, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.




Source link

Tags: approveAvivCenterCityHomessetTel
ShareTweetShare
Previous Post

Canada Moves To Destroy Encryption – Demands Backdoor Access To ALL Available Data

Next Post

Fed’s Kashkari tells CNBC that inflation fight takes priority as labor market is ‘in decent shape’

Related Posts

Advanced Micro Devices (AMD) Price Prediction: How Much a ,000 Investment Could Be Worth by 2031

Advanced Micro Devices (AMD) Price Prediction: How Much a $5,000 Investment Could Be Worth by 2031

by FeeOnlyNews.com
August 8, 2026
0

Quick Read AMD's Data Center revenue jumped 57% YoY, driving a base-case projection of $7,657 from a $5,000 investment by...

Vanguard Chief Economist: AI and jobs, still in an ATM phase

Vanguard Chief Economist: AI and jobs, still in an ATM phase

by FeeOnlyNews.com
August 8, 2026
0

Every wave of technological change seems to arrive with a familiar prediction: This time, jobs are going away for good....

Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

by FeeOnlyNews.com
August 8, 2026
0

Asia's oldest exchange, BSE, traded far fewer derivatives contracts in the first week following the implementation of the Closing Auction...

Banks or NBFCs? DSP’s Preethi R S explains where she sees the best opportunities

Banks or NBFCs? DSP’s Preethi R S explains where she sees the best opportunities

by FeeOnlyNews.com
August 8, 2026
0

India’s financial stocks are entering a more selective phase, where the strength of a lender’s deposit franchise, underwriting discipline and...

Vaxart outlines Phase IIb COVID-19 top line data in first half of 2027 backed by BARDA funding (OTCMKTS:VXRT)

Vaxart outlines Phase IIb COVID-19 top line data in first half of 2027 backed by BARDA funding (OTCMKTS:VXRT)

by FeeOnlyNews.com
August 7, 2026
0

Earnings Call Insights: Vaxart, Inc. (VXRT) Q2 2026 Management View "The second quarter and recent weeks marked a pivotal period...

Nutex outlines 3 hospital openings in H2 2026 while maintaining 3 to 5 openings per year (NASDAQ:NUTX)

Nutex outlines 3 hospital openings in H2 2026 while maintaining 3 to 5 openings per year (NASDAQ:NUTX)

by FeeOnlyNews.com
August 7, 2026
0

Earnings Call Insights: Nutex Health (NUTX) Q2 2026 Management View "It was an active quarter, marked by strong financial results,...

Next Post
Fed’s Kashkari tells CNBC that inflation fight takes priority as labor market is ‘in decent shape’

Fed’s Kashkari tells CNBC that inflation fight takes priority as labor market is 'in decent shape'

Crypto Markets Shed B Amid Fresh US Strikes on Iran

Crypto Markets Shed $80B Amid Fresh US Strikes on Iran

  • Trending
  • Comments
  • Latest
Bitcoin and ethereum prices today, Friday, August 7, 2026: Crypto prices moving higher following July jobs report

Bitcoin and ethereum prices today, Friday, August 7, 2026: Crypto prices moving higher following July jobs report

August 7, 2026
MEXC Lists Ondo Yield Asset As Tokenized Treasury Demand Grows

MEXC Lists Ondo Yield Asset As Tokenized Treasury Demand Grows

July 3, 2026
Why did a 4 billion CEO just endorse stripping most Americans of voting rights?

Why did a $154 billion CEO just endorse stripping most Americans of voting rights?

July 27, 2026
Yahoo Finance Plus Review – Is the Premium Service Worth It?

Yahoo Finance Plus Review – Is the Premium Service Worth It?

May 20, 2026
11 Remote Jobs You Can Start Today With Zero Experience

11 Remote Jobs You Can Start Today With Zero Experience

March 27, 2026
Simple Rules That Helped Mariana Reach  Million

Simple Rules That Helped Mariana Reach $1 Million

March 26, 2026
Advanced Micro Devices (AMD) Price Prediction: How Much a ,000 Investment Could Be Worth by 2031

Advanced Micro Devices (AMD) Price Prediction: How Much a $5,000 Investment Could Be Worth by 2031

0
Cities holding up to 3 million people found under Amazon rain forest

Cities holding up to 3 million people found under Amazon rain forest

0
Republican Party Displacement | Mises Institute

Republican Party Displacement | Mises Institute

0
Bybit Uses Tokenised Equities as Underlyings for Structured Yield

Bybit Uses Tokenised Equities as Underlyings for Structured Yield

0
Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

0
Vaxart outlines Phase IIb COVID-19 top line data in first half of 2027 backed by BARDA funding (OTCMKTS:VXRT)

Vaxart outlines Phase IIb COVID-19 top line data in first half of 2027 backed by BARDA funding (OTCMKTS:VXRT)

0
Advanced Micro Devices (AMD) Price Prediction: How Much a ,000 Investment Could Be Worth by 2031

Advanced Micro Devices (AMD) Price Prediction: How Much a $5,000 Investment Could Be Worth by 2031

August 8, 2026
Republican Party Displacement | Mises Institute

Republican Party Displacement | Mises Institute

August 8, 2026
Vanguard Chief Economist: AI and jobs, still in an ATM phase

Vanguard Chief Economist: AI and jobs, still in an ATM phase

August 8, 2026
Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

Explained: How BSE traded fewer contracts after CAS but premiums rose 75% in first week

August 8, 2026
Democrats’ Affordability Message Misses a Key Expense—Student Debt

Democrats’ Affordability Message Misses a Key Expense—Student Debt

August 8, 2026
Banks or NBFCs? DSP’s Preethi R S explains where she sees the best opportunities

Banks or NBFCs? DSP’s Preethi R S explains where she sees the best opportunities

August 8, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Advanced Micro Devices (AMD) Price Prediction: How Much a $5,000 Investment Could Be Worth by 2031
  • Republican Party Displacement | Mises Institute
  • Vanguard Chief Economist: AI and jobs, still in an ATM phase
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.