MOPHET, a 176-apartment residential project in central Ra’anana, has recorded more than NIS 150 million in sales during its soft launch, according to ADI Capital, which markets homes in the development.
The company says five penthouses have sold for NIS 10 million to NIS 14 million each, with buyers from Los Angeles, New York, Mexico City, Switzerland and England.
Five-room apartments are priced at NIS 6.7 million to NIS 7.7 million. ADI Capital puts penthouse prices at NIS 55,000 per square meter and five-room homes at NIS 47,000 to NIS 48,000 per square meter.
The sales reflect interest from overseas buyers in Ra’anana, which has long attracted English-speaking families moving to Israel.
Plans call for two seven-story buildings, underground parking, an open-air atrium and a street-level shopping promenade. The apartments range from two to five rooms.
Construction underway, expected completion in three years
ADI Capital says construction is underway, with delivery expected in about three years, and that Tidhar has been selected as the contractor.
The project was designed by acclaimed Israeli architect Gaby Schwartz. Interior designer Dana Oberson, whose portfolio includes Six Senses Shaharut, is designing its shared spaces.
Planned amenities include a pool, saunas, a Jacuzzi, yoga and Pilates studios, and areas where residents can work. The promenade is intended to bring shops and services into the complex.
That combination of apartments and shared facilities is aimed at several groups: families considering a move to Israel, retirees, professionals who divide their time between countries, and Ra’anana residents looking for a different kind of home within the city.
One group has a particular connection to the place. English-speaking immigrants who settled in Ra’anana decades ago now have adult children raising families of their own.
Families looking to build a future in Ra'anana
For some, living near parents and grandparents has become a reason to look again at the local housing market. Larger apartments with parking and shared facilities may appeal to families who would otherwise seek a private house.
“Ra’anana has always been a city people want to come home to,” said ADI Capital CEO Dov Wiener. “We are seeing it from different directions. Families abroad are looking to build a future in Israel, professionals want an Israeli home while continuing to work internationally, and children who grew up in Ra’anana want to raise their own families close to their parents. The challenge is creating the quality of housing and lifestyle that allows them to do that.”
Ra’anana’s established English-speaking community, schools and access to Tel Aviv have made it a familiar choice for newcomers. MOPHET seeks to serve both those arriving from abroad and families with roots in the city.
With construction underway and more than NIS 150 million in early sales, MOPHET’s soft launch points to demand from both international buyers and families already rooted in Ra’anana.