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Premium Capital Resources LLC (PCR), in collaboration with a strategic and experienced Joint Venture (JV) Partner, has successfully acquired a pre-approved piece of land in Ramat Bet Shemesh Daled. The current approval allows for the construction of 200 assisted living units and an additional 5,000 square meters of commercial space on the ground floor.
PCR, in conjunction with its partner, is strategically planning to change the approved use to 265 free-market units. The proposed development includes building 50% of the units as Condo units, with comparable sales averaging around 750,000 NIS per unit, and the remaining 50% as Rental units, with comps selling for approximately 450,000 NIS. The anticipated timeline for this zoning transition is 1.5-2 years.
Upon securing the final approvals, Premium will assess whether to sell the newly approved project to a developer or proceed with the development themselves. In either scenario, Premium anticipates delivering lucrative returns to its investors.
