New Housing Project in South Buchman, Modiin
Posted on 15. Jan, 2010 by buyitinisrael in Israel Real Estate
Prashkovski Investments & Construction Ltd. has won a tender from the Israel Lands Administration for the construction of 86 housing units in Modi’in’s exclusive area of South Buchman.
The site of the new project in Buchman, Modiin
The housing project will be built on a plot of land of 21,931 square meters in the area of South Buchman in Modi’in. Prashkosvski’s total investment in the project will amount to an estimated NIS 53 million out of which NIS 35.7 million are for the land purchase and NIS 17.2 million are budgeted for development costs of the housing units.
Buchman, which is divided into South Buchman (Moriah) and North Buchman (Hashvatim), is one of Modi’in’s youngest and most exclusive neighbourhoods located in the southern part of the city. The population of Buchman is diverse, many of its residents are from Anglo Saxon origin. There is a mixture of both religious and secular residents.
“We made the winning offer as we were determined to enter the property market in Modi’in. Modi’in is the city with the drive for future construction in the center of the country” said Yossi Prashkovski, CEO of Prashkovski Investments & Construction Ltd. “Modi’in is the only city in Israel which was planned out from the beginning which is reflected in its urban services, environmental planning in the city, its
educational system and advanced infrastructures from which buyers will benefit.”
This is the first project, Prashkovski has won in the area of Modi’in. Until now the group has mainly been active in Rishon Lezion, Kfar Saba, and Petah Tikva. The company has recently won a tender from the Israel Land Administration for the construction of 204 housing units in Shoham.
The Prashkovski Group, a family-owned and managed group of entrepreneurs and builders, has been an active player in the Israeli real estate market since the beginning of the 20th century. The group has built more than 1,300 housing units, as well, as active business centers. Over the last decade the group has constucted more than 700 housing units, out of which 400 were located in the city of Rishon Lezion, 300 in Petah Tikva and 30 in Kfar Saba. The goal of the group is to build new projects in Israel order provide homes for about 400 families a year.
If you would like to receive more information on this new project in Buchman, Modi’in, please contact us.
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