The year we just went through was anything but simple, fraught with complex challenges on both personal and professional levels. The halt of international travel and the extensive restrictions have made visiting Israel difficult, if not impossible.
Many would-be customers from communities abroad would have liked to purchase apartments, but in the light of the restrictions were forced to choose between making a remote purchase or shelving their dream until the storm subsided.
At the same time came the completion of Phase 1 and its occupancy, generating renewed enthusiasm and demand from communities around the world. The sales office did brisk business fielding the many inquiries that poured in, even sending a delegation to the US for a quick round of sales meetings.
Their expedition was met with great success, with dozens of deals signed in face-to-face meetings. This trip was the first in a series of successful flights, and additional trips have been scheduled for the near future.
Sales this year totalled $100 million , in addition to the $250 million in sales from the previous years – an unprecedented total for the Jerusalem real estate market, even when factoring in the most prestigious residential projects.
This we attribute to the culmination of the first phase – the realization of a dream, one which enabled us to perceive the grand vision with our own eyes. The magnificent results stand now in Jerusalem, precisely as outlined at the project’s inception.
Through it all, construction at Jerusalem Estates proceeded on schedule. Hundreds of laborers filled the building site, resulting in the timely completion of the buildings in Phase 1: the Urn, the Palm, the Harp and the Goblet.
Occupancy of the noted buildings began in Elul, as expected, and it continues to this day.
Owing to the high demand and rapid progression of Phase 1, we have opened two of the buildings in Phase 2 to market: the Trumpets and the Violin. Sales have already exceeded 50% in these buildings, while construction progresses at a steady pace.
Good News from Israel
The difficulties of the past year are not yet behind us, but thankfully we are starting to see the light at the end of this tunnel, especially here in Israel with the arrival of the vaccine. May the challenges of this time pass quickly, bringing peace and calm to us all.