Marketing Projects Associated with “TAMA 38” and “Pinuy Binuy” (Evacuation and Construction) Government Programs
TAMA 38 is a unique construction program implemented by the Israeli Government in an effort to strengthen and renew older apartment buildings. It is meant to protect susceptible areas from earthquake damages and at the same time it aims to increase the amount and value of housing units in high demand areas. By permitting developers to add extra floors to existing apartment buildings in exchange for improvements of the foundations and general renovation of the buildings, this programs generated substantial influence on the supply and demand of the local market.
“Pinuy Binuy” is a program declared as official policy by the Israeli government in the late 90’s, which focuses on the destruction of old and poor-conditioned neighborhoods in high demand areas and the building of new residential projects in their place.
People who are looking to purchase an apartment at a lower rate than the standard market prices might find the opportunities provided by these programs attractive.
Yet, marketing projects of that kind is inherently different than marketing other real estate projects and requires a different more creative approach. It is important to identify the project which its advantages truly stands out in comparison with other projects around it. Our office specializes in identifying and laying out the assets of the Urban Renewal projects we choose to work with by means of wise marketing resulting in increase saleability.