Property Development
REALIZING POTENTIAL WITH VISION AND ATTENTION TO DETAILS
Residential property development in Israel is a highly competitive business, particularly in the country’s densely-populated center, where areas zoned for residential construction are dwindling and demand is so intense. And yet, Hachamov & Sons has excelled at winning projects and developing them in these areas.
The company develops apartment buildings, private homes, public buildings including schools, all necessary public service facilities and public areas, as well as landscaping. Hachamov & Sons is particularly proud to engage in projects, requiring infinite attention to details to ensure the quality planning of the architecture and construction, and quality of life of an entire community.
The company measures its work by buyer satisfaction, construction quality and durability and long-term relationships with property owners — the secrets to the company’s ongoing success.
A STRONG, RESPONSIBLE BUSINESS PARTNER
Hachamov & Sons has successfully bid for such projects based on its ability to finance and execute quality projects, providing sound investments for apartment buyers, banks and municipalities.
As the Property Developer, Hachamov & Sons handles all of the legal interaction with the Israel Lands Authority to ensure that property is acquired and allocated to future apartment owners according to property laws and regulations.
In keeping with national priorities, the company’s development projects increasingly incorporate green construction methods and materials, contributing to lower maintenance costs and more comfortable living.
Construction
IN GOOD HANDS – FROM START TO FINISH
The majority of the Hachamov & Sons’ activities involve the construction of new buildings, from the planning stages, through the approval processes, subcontractor management, design, construction and finishing touches.
It is important for the company to work with professional suppliers who respect their work, while ensuring outstanding communication and coordination for the duration of the project. Hachamov & Sons and its suppliers have cultivated ongoing relationships over the years, contributing to seamless cooperation and ongoing success.
Hachamov & Sons works closely with all parties involved to execute its building construction projects on time and on budget.
URBAN RENEWAL PROJECTS DELIVER VALUE TO OWNERS AND COMMUNITIES
In addition to engaging in new construction, Hachamov and Sons handles “Vacate and Build” projects, requiring the demolition of feeble and aging apartment buildings and construction of new high-rise residential buildings in their place. Under the framework of a Government-endorsed program, contractors receive ownership of additional apartment units, in exchange for building these projects.
Each apartment owner is compensated for living elsewhere during the construction and, upon completion, receives a new, enlarged apartment including a safe room, parking and, usually, a storage room. Often additions, such as multiple elevators, a community room and bike room are also included. These projects often increase individual property values by up to 25-50%.
Municipalities advocate these urban renewal projects to ensure that property values and infrastructure quality remain high in their jurisdictions, while improving the appearance of the neighborhood.
Earthquake Reinforcement
STRENGTHENING AND ENHANCING BUILDINGS TO BOOST PROPERTY VALUES
Hachamov & Sons engages in Earthquake Reinforcement projects (known locally as Tama 38), which are designed to fortify buildings constructed prior to mandatory earthquake-resistant construction standards in Israel. Most projects under this urban renewal program involve the addition of a safe room and sun porch within each apartment, and a storage room for each apartment – usually on the ground level.
During construction, additional enhancements are offered to residents, including:
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Upgrade of building exterior, lobby and stairwells
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Addition of an elevator in buildings that previously did not have one
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Replacement of the main sewage system
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Expanded / improved parking
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Improved handicap access
By strengthening the building’s foundations, contractors are authorized to add an additional two and a half floors of apartments, which they are able to sell to make the project profitable. The apartment upgrade, which is typically done at no cost to the residents, increases property values by up to 30% for their owners.
An alternative program addresses buildings that must be demolished and rebuilt completely, providing apartment owners a completely new apartment, within a new building, at no cost to themselves.
RESPONSIBLE MANAGEMENT FOR TODAY’S AND FUTURE PROJECTS
Hachamov & Sons provides all of the needed professional expertise to apartment owners to plan and expedite Earthquake Reinforcement projects: building inspection, professional recommendations, agreement with the apartment owners, planning, obtaining approvals from the authorities and project execution.
Common challenges inherent in Earthquake Reinforcement projects include obtaining regulatory approvals, meeting budgets and deadlines, and satisfying the residents’ remodeling ambitions while ensuring the profitability of the project. Hachamov & Sons has an outstanding record of meeting all of these challenges, providing valuable endorsements for future projects.
Herzliya