7,400 Residential Units to be Constructed between Herzliya and Shfayim, at a Value of $2 Billion

The Israel Lands Administration and private parties are currently promoting three large construction projects with a total of 7,400 residential units, west of the coastal highway, between Herzliya and Shafyim. This is one of Israel’s most expensive areas, due to its proximity to the Mediterranean and to Tel Aviv, and sales are expected to total about $2 billion.

To the north of Herzliya’s Nof Yam a project is underway in a firing range zone located in northern Herzliya Pituach. According to an agreement between the Israel Lands Administration and the Herzliya municipality, approximately 3,300 residential units, 600 hotel rooms, a neighborhood center and public buildings will be constructed on the northern Nof Yam site (formerly a firing range). The project is slated to be built on a 600 sq.m. plot between Nof Yam, the cliff line and the coastal highway. The project is expected to increase the number of residential units in the city by 20%.

An additional area that is being marketed is that of the antenna complex that formerly served Bezeq. The site is located to the west of Moshav Rishpon and south of Arsuf. The 480 dunam plot stretches from the coastal road to the sea, and the plan calls for the construction of hundreds of luxury apartments. According to estimates, the project will include some 3,000 apartments.


February 2, 2003 , Ha’aretz