The CARASSO REAL ESTATE GROUP was founded in 1933 in Israel by Mr. Moshe Carasso. Over time, the Group has played a prominent, leading role in building Israel, as clear by its extensive and diversified investments and commercial operations. Under the leadership of the Moshe Carasso Family, the Group has expanded its scope of operations by developing and managing assets and investment properties throughout Israel. These attributes, combined with the trust of its shareholders, Carasso family members, confer the CARASSO REAL ESTATE GROUP with the financial strength to carry out diverse, far-reaching commercial developments within the various real estate sectors. The combination of the Group’s ethical values and economic stability, grants clients and partners the security to create profitable, fruitful cooperative ventures.
RESIDENTIAL REAL ESTATE
The CARASSO REAL ESTATE GROUP specializes in identifying, promoting, planning, developing and executing broad-scale residential projects. Its superiority is manifested in the considerable resources it invests to fulfill its mandate – to improve the clients’ quality of life while intensifying their feeling of belonging to the surroundings and the community. The Group’s careful planning process provides varied, innovative solutions at every stage. Planning is carefully focused towards adapting projects to their surroundings while reaching the construction stage at maximum readiness and utmost suitability to the client base.
For more than a decade, the CARASSO REAL ESTATE GROUP has been involved with urban renewal projects, viewing this as a critical channel for residential real estate development in prime areas of Israel with limited land available for construction. Through the urban renewal subsidiaries under its control, the Group operates within the framework of the “TAMA 38” Plan and its amendments. Simultaneously, the Group identifies and promotes the development and renewal of sizeable residential compounds within the framework of urban renewal projects.
Very shortly, the focus of the Group’s activities within the residential real estate sector will turn to the maturation of urban renewal projects and the construction of thousands of housing units in many evacuation-reconstruction compounds in Jerusalem, Tel Aviv, and Givatayim. Among the projects commissioned to the CARASSO REAL ESTATE GROUP are many compounds slated for urban renewal, including over 2,000 residential units now in the advanced planning and licensing stages. The Group expects building permits to be issued to over half of the units within the next two years.
EVACUATION-RECONSTRUCTION – LEADING PROJECTS
Among the CARASSO REAL ESTATE GROUP’s latest projects – “Lavie Compound” in Givatayim, to include the construction of 225 housing units; “28-29 Columbia” in Jerusalem, including the construction of 408 new housing units along with commercial areas; “Derech Hevron-H’aTnufah Compound ” in Jerusalem, including 404 new housing units along with commercial areas; “1-9 Tahon,” “13 Tahon,” and “31 Rabinowitz” compounds in Jerusalem, in partnership with Kidmat Ha’Yovel, where the companies will construct 276 new housing units.
The specialized subsidiary companies in this sector – “Carasso Construction 38” and “Carasso Real Estate Metropolitan” – have been operating for the past eight years, after the CARASSO REAL ESTATE GROUP identified the potential and added value inherent in urban renewal.
The TAMA 38 companies under the CARASSO REAL ESTATE GROUP’S control, gain from the financial strength of the parent company and the vast experience of its managers and staff in constructing large-scale residential projects.
Carasso Construction 38 and Carasso Real Estate Metropolitan hold some of the largest market shares, in certain Gush Dan and Sharon Region cities, of projects carried out under TAMA 38. To date, seven buildings have been populated after Carasso Construction 38 completed the reinforcement and upgrading work.
The TAMA companies are now involved in 15 projects, including the construction of 400 new housing units in the Gush Dan and Sharon Regions, which are in advanced stages of planning and execution.
In addition, Carasso Construction 38’s “Carasso Ono” Project is now being marketed – Israel’s most significant TAMA 38 reinforcement and renewal project. The residential compound includes 104 housing units, to be enhanced by the construction of a private park, underground parking facilities, and an added 73 housing units.
TAMA 38 – LEADING PROJECTS
32 Ha’Knesset, Givatayim – 56 housing units; 24/26/28 Yavnieli – Givatayim – 60 housing units; 144-146 Ibn Gvirol, Tel Aviv – 57 housing units; 4-10 Ha’Ma’avak, Givatayim – 82 housing units; Carasso Ono, Kiryat Ono – 73 housing units; Pilichowski, Tel Aviv, in partnership with Ashdar – 36 housing units, and 7-9 Hadera, Tel Aviv – 55 housing units.
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