Abu Family Housing, led by Tsahi Abu, has signed an agreement with Bingo Real Estate to purchase 50 apartments in the Romema neighborhood of Jerusalem for approximately 156 million shekels. These units are part of an ongoing construction project that will include a total of 96 apartments, along with commercial and public spaces. Bingo commits to completing the construction and delivering the units by June 10, 2029. The transaction payment will be made in three stages, with an initial payment of 23.4 million shekels, followed by additional payments before and at the final delivery. The agreement includes adjustments based on the actual area of the units and an annual rental yield of 4%. Abu Family Housing plans to finance this purchase through its own resources or by borrowing. Tsahi Abu expressed confidence in the Jerusalem market and views this investment as a strategic opportunity to strengthen the company's portfolio.
