BDI

Azorim Urban Renewal

Urban Renewal

Profile

Founding Year 1964
Address 32 Arania St., Tel Aviv 6107034 - View Map
Phone 972-3-5632632
Fax 972-3-5632689
Email [email protected]
Company Website www.azorim.co.il
   
   

Managers

Moshe Koren, Manager - Business Development and Urban Renewal, Azorim Urban Renewal

Moshe Koren

Manager - Business Development and Urban Renewal

About Azorim Urban Renewal


Azorim is Israel's leading urban renewal company and is active in significant projects throughout the country, including Herzliya, Netanya, Bat Yam, Haifa, Givat Shmuel, and Jerusalem. Azorim is currently promoting a residential complex in Tel Aviv's Shvatim neighborhood (a "MOMENT" project) where 714 new apartments will be built in a complex that will house commercial and employment areas that will replace older apartment units. Project construction is already underway. This project is one of the most intriguing in the Gush Dan Area, as the entire area is expected to undergo a significant renewal, including access to major traffic arteries and public transportation. In addition, other urban renewal projects will be worked on in the coming year, including in Givat Shmuel, where Azorim is involved in an urban renewal project on Ben Gurion Street and intends to build 370 new apartments, in Haifa's Ramat David, where Azorim intends to build 400 apartments*, in Netanya, another prestigious project, with 540 apartments, and in Herzliya's Weizmann neighborhood, with 670 apartments*

Sima Maor

Business Development Manager

Sheli Yosef Green

Director–Evacuation-Construction

 Nehorai Tal

Project Manager

 Hanan Binsky

Company Appraiser

Sofia Eldor

Urban Renewal Consultant

 

Azorim’s specialization in planning will allow it to undertake over 3,000 apartments in the coming year – a record number of housing units for construction. To lead the urban renewal revolution, Azorim has recruited the best experts and pioneers in the industry, and with them – and with the full cooperation of the tenants, whom Azorim considers full partners – it intends to realize its vision in full. Azorim strives to bring the Azorim Group’s reputation and many years of experience to an industry where many small entrepreneurs sometimes present plans that do not materialize. Azorim has established a separate division for urban renewal under the leadership of Moshe Koren, VP – Business Development and Urban Renewal, to streamline and use the Azorim Group’s professional capabilities and experience while enabling appropriate systemic flexibility. Azorim deals with evacuation-reconstruction and TAMA 38 demolition and construction projects, focusing on mega projects that include new neighborhoods. Also, Azorim’s uniqueness lies in the fact that the “urban renewal” project is managed by one team, from beginning to end. The team addresses inquiries and requests to ensure personal accompaniment, which considers the benefit of the tenants and their needs at every stage.
The choice of an urban renewal entrepreneur is critical, and the proposals should be examined from several standpoints before choosing the winning developer. Thus, according to Moshe Koren, “In this area, we see hundreds of developers who have been promoting projects in recent years. In the worst case, the developer also caused financial losses and great disappointment to the apartment owners. We constantly hear complaints from the apartment owners about developers who offered ‘mountains and hills’ and ultimately did not live up to their promises, which at best delayed the project for a significant period, and at worst, even caused financial losses and incredible frustration for the apartment owners. Apartment owners must internalize that the quality of the offer focuses not only on the new space they receive, but on the weighting of several parameters, such as company quality, financial strength, experience, seniority, construction quality, and, as we said, peace of mind, which cannot be quantified.”
Azorim attaches great importance to the comfort and needs of the apartment owners, and its purpose is to create security for the apartment owners in the planning and execution procedures.
As a leading company in urban renewal, and based on an understanding of the needs, desires, and barriers of the residents, Azorim has developed a flexible, innovative, and groundbreaking reward model, which only a large, stable company with many available projects across the country can offer its customers – the “evacuation-credit” model.
This model offers apartment owners variety and flexibility in choosing the consideration according to their needs and desires. The plan allows apartment owners to receive an independent appraisal of the value of the future apartment in the project, and based on this calculation, tenants are invited to choose the most appropriate route: a smaller apartment in the project and receiving the difference in cash, an apartment in another Azorim project, an upgraded apartment in another Azorim project, plus payment and more. Of course, apartment owners can choose to remain on the regular evacuation-construction route as part of urban renewal and get their new apartment in the same complex upon completion of the project. The evacuation-credit model is a precedent, as this is the first time that a large company such as Azorim allows apartment owners to choose each apartment from Azorim’s inventory and as they wish.
The model also addresses the diverse needs of the apartment owners (older population, management fees, moving to a ready-made apartment) and allows for a decent and quick cohesion of the apartment owners (everyone gets the right solution).
Azorim cooperates fully with the local authorities to advance its plans, as ultimately it is in the common interest of all to expand the housing supply, improve tenants’ lives, renew old construction, and create modern neighborhoods with a high quality of life for residents. The data show an increase in construction clearance projects, but this is not enough, and the number of projects can increase even more in cooperation with the municipalities. Azorim expects that activity in urban renewal will increase, concentrating mainly on the large and experienced companies. Azorim is already active in 36 construction clearance projects in various stages of development and is promoting the planning of over 12,000 housing units. No less critical than Azorim’s extensive activity in the field is the fact that the company holds approvals for work in six leading projects to be undertaken this year.
Azorim’s vision for the coming years emphasizes the continuation of social activity in the field, which is in total synergy with its business activity. Azorim intends to continue working with the evacuation-credit model and expand its activities in the periphery and less developed areas.

* In the first stage.

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