Urban renewal projects require a high level of professionalism and performance, because they are carried out in a built-up environment, saturated with older infrastructures. Herzig Real Estate has harnessed the insight it has accumulated over the years, its expertise and execution capabilities, and started a series of TAMA 38 projects while maintaining the quality of construction, top finish level and prestigious standards – to the residents’ satisfaction.
The Herzog Group’s projects, in the planning, construction, marketing and delivery stages cover the entire country including Tel Aviv, Ramat Gan, Bnei Brak, Givatayim, Ashdod, Rishon Le’Zion, Holon, Petah Tikva, Bat Yam, Ramle, Givat Shmuel, Tiberias, Katzrin and Kiryat Yam.
During 2020, hundreds of modern housing units will be delivered, and hundreds more will complete their permit phase and move into the construction phase.
TAMA 38 – Joint Ventures with Residents
The Herzig Real Estate Group believes that a TAMA 38 project is a social contract between the developer and the residents. Its working model is based on understanding the residents’ special needs, while giving respect and personal attention to each resident.
The Company negotiates with the building’s residents with full transparency and a genuine interest to present them with a competitive and economically viable offer. The secret to the project’s success lies in the cooperation with the residents and the flexibility showed by all parties during the negotiations. Residents are assisted by a lawyer they have chosen. While the lawyer’s professional fees are paid by the developer, his job is to protect only the interests of the residents.
In the contract signed with the residents, the Company commits to carry out the project, with all costs borne by the Company including the costs of representation of the residents, rentals and transportation. The Company provides all guarantees required to carry out the project in a manner that offers the residents peace of mind throughout the project.
Throughout the lengthy process, the residents and the Company build trust relationships that continue to grow even after construction is completed. Residents’ recommendations in previous Herzog Real Estate projects show their satisfaction.
For an entrepreneurial company, notably a company that specializes in urban renewal, a strong economic back bone is a critical and influential factor in building residents’ decision to deposit their older homes, with full confidence that their property is in good hands and with whom to trust.
The Herzig Real Estate Group is financially sound and enjoys the confidence of the country’s largest banking entities. The Company’s financial statements report a constant increase in revenue.
A Family-Managed Company
The Herzig Real Estate Group is a family-managed company that grew within the community and is noted for its financial stability, its recognition and adjustment to market needs, professional manpower, strict quality control and accuracy in construction, without “shortcuts”, reliability and transparency with banks and customers.
In 1978, the Late Yedidya Herzog (1946-2018) founded the Company. He was a visionary, with a thorough knowledge of all aspects of construction and close acquaintance with all intricacies of the profession, a connection to the field and accomplishment, and above all a personal and human approach that became the guiding symbol of the Company.
In 2010, Yehuda Herzig was appointed the Company’s Chief Executive Officer. His love of the real estate and entrepreneurial world was absorbed early on, and he spent much time on construction sites and “breathing the site”. He later specialized in all stages of a construction project – from the entrepreneurial and financing stage, through planning and licensing, on-site implementation and management of contacts with the professionals. Yehuda Herzog also lectures at national conferences and at other real estate investment and urban renewal frameworks.
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