The urban renewal company, operating in the old northern part of Tel Aviv where real estate sales are particularly challenging, holds a stock of about 250 apartments for sale. To boost sales, they have launched an innovative initiative: a lottery for a 37 sqm apartment, valued at approximately 2.3 million shekels, with taxes on the prize potentially reaching 800,000 shekels. This initiative is part of a series of recent promotions in the real estate market, such as Kata Group's 'trade-in' to assist in selling old homes, or guaranteed rents to attract investors. This strategy aims to stimulate interest from potential buyers in a saturated and tough market.
