Shufersal, through its subsidiary Larro Real Estate, has signed a preliminary agreement with the Tidhar Group to develop a residential and commercial project in the Talpiot neighborhood of Jerusalem. This project, which includes about 200 residential units, rental housing, and commercial spaces, is already in an advanced planning stage. Tidhar will receive part of the rights in exchange for executing the project, while Shufersal secures economic protection mechanisms, including guaranteed minimum rights. The project is located at the intersection of Pierre Koenig and Poalei Tzedek streets and involves demolishing an existing building to construct a 24-story tower. The completion of the deal is contingent upon due diligence, further negotiations, and regulatory approvals.
