Jerusalem, 9 September, 2026 (TPS-IL) — Israel’s Land Authority has announced the winning bid in a tender for lease rights to develop 66 residential and commercial units in the Neve Israel neighborhood of Herzliya, north of Tel Aviv. Eight bids were submitted for the project, with the winning bidder paying approximately 42 million shekels (about $11 million) for the land, excluding VAT and development costs.
The site, covering roughly 2.4 dunams (0.6 acres), is zoned for urban renewal and rehabilitation. The final number of units will depend on planning approvals still to come.
The winning developer must coordinate with municipal and planning authorities to build the project as part of the broader renewal of Neve Israel, one of Herzliya’s older neighborhoods.