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DevelopersGindi Holdings

Gindi Holdings

גינדי החזקות

Gindi Holdings is building GINDI VOGUE: 708 homes on Central lots 2206 and 2255, about 250 metres from the sea, bought for about ₪1.24B including development in February 2025. It launched in June 2025 from ₪49,000 per sqm and had 602 signed contracts within six weeks, leaving mainly penthouses, which it now offers from ₪65,000 per sqm. In August 2025 the Sales Law Regulator ordered a 2.5 per cent refund over how deposits were collected, in August 2026 an option-holder sued over the PFAS findings, and the same month REIT 1 agreed to buy all the retail and office space for about ₪400M plus VAT, with occupancy expected in five to seven years.

The company

Legal name
Gindi Israel 2010 גינדי החזקות בע"מ
Founded
The company's own site says 1999; Hebrew Wikipedia says 2000. The two are not reconciled anywhere.
Founders
The five children of the contractor Yigal Gindi: Lital Gindi-Matalon (attorney), Avi Gindi, Guy Gindi (attorney, co-chief executive), Roy Gindi and Menachem Gindi.
Head office
65 Herzl Street, Rishon LeZion
Listed
Private company, no exchange listing
Ownership
Private, held by the five Gindi siblings. There is no equity or bond ticker.
Scale
The company says it has delivered 22,475 units and 94,351 service units. Hebrew Wikipedia's 2015 figure was about 7,550 units across 11 subsidiaries. The larger number is self-reported.
Elsewhere
  • Sarona Towers and Sarona Market, Tel Aviv; the market was sold to the Big and Mega Or chains for ₪160M in October 2019
  • G Tower Tel Aviv, Gindi Heights Ramat Gan, OAK Tower Ramat HaSharon
  • Carmei Gat, Kiryat Gat, about 1,133 units
  • Love, Herzliya, more than 500 units; Ramat Apel, Ramat Gan, 470 units
Not to be confused with
There are two unrelated Gindi property dynasties. This one, Gindi Holdings at gindih.co.il, is the Sde Dov developer, controlled by the children of Yigal Gindi. A separate group trading as Gindi Investments and Gindi TLV, controlled by Manor and Kfir Gindi, builds the unrelated Gindi Tel Aviv complex. English-language search results conflate them constantly. A further company with the name, Chen & Itay Gindi, is also in Sde Dov: it leads the buying group on North lot 3107 and bid for private Eshkol lot 104 in March 2025. AI answers that list "Gindi Israel" as a Sde Dov developer mean Gindi Holdings, whose winning entity is Gindi Israel 2010.

What a buyer from abroad should know

This is a private company with no stock-exchange disclosure obligations, so everything known about its financial position comes from press investigation rather than audited filings. Two matters specific to this project are on the record: a regulator's refund order over how deposits were collected, and a buyer's lawsuit over the contamination findings.

What it paid, and for what

Every recorded acquisition in the district, with the source for each.

Timeline

On the record

Published facts a buyer would want before signing. Each carries its source.

The Sales Law Regulator ordered a refund

On 4 August 2025 Ariel Rosenberg, the Sales Law Regulator at the Housing Ministry, found that Gindi had collected 9.5 per cent of the purchase price through option agreements without providing the statutory guarantees that become mandatory above 7 per cent, and ordered a 2.5 per cent refund held in trust for buyers on roughly 360 units sold in the June 2025 campaign. Gindi said it had acted in an orderly and professional manner and that no defect occurred, but would comply and respected the regulator's position.

A buyer is suing over the contamination findings

On 3 August 2026 the first option-holder in the project filed at Tel Aviv District Court seeking rescission and a full refund of a deposit of about ₪500,000, 7 per cent of the price, paid in July 2025 before the PFAS contamination became public towards the end of that year. The claim is that the contamination was concealed. Gindi's public answer is that remediation, if it is required, will be carried out at no cost to apartment buyers, and that it will respond through the legal process.

How fast the project actually sold

By 12 June 2025, within a week of the ₪49,000 per sqm launch, 450 of the 708 units had moved: 90 signed and 360 holding deposits, at an average realised price of ₪56,000 to ₪59,500 per sqm once financing costs are counted. By 17 July 2025, during the war with Iran, another 120 had sold, taking the cumulative total to 678 registered buyers and 602 signed contracts, about ₪4.5B of volume.

Occupancy is five to seven years away

When REIT 1 agreed in August 2026 to buy the project's 5,000 sqm of retail, 7,400 sqm of offices and 127 parking spaces for about ₪400M plus VAT, it paid ₪80M on signing, with the rest due on occupancy, which the parties expect in five to seven years depending on the pace of construction on the different plots. At launch in June 2025 buyers signed options rather than sale contracts because there was no building permit, paying 7 per cent into trust plus a further 2.5 per cent, then 10.5 per cent on the sale contract and 15 per cent after the permit; one tower offered on separate terms asked 50 per cent at the permit.

Where sources disagree

Published figures that do not match. Both readings are given rather than one being chosen.

How many buyers did the regulator's refund order cover, and how much money?

Calcalist's ₪90M is its own estimate from the number of homes sold by August 2025; the regulator did not publish an amount.

Projects

GINDI VOGUE renderingRepresentation, after: Gindi Holdings
GINDI VOGUE
Gindi Holdings · Central · 708 homes
Selling now

In the news

  • Globes
    Buyers in Sde Dov projects are writing cancellation clauses into their contracts

    Globes: apartment buyers in district projects are adding cancellation clauses to purchase contracts because of the PFAS findings. The Environment Ministry told Globes that all nine plots with PFAS indications are earmarked for housing and that sampling results will be published once the investigation reports are approved. Globes names Dimri, Shikun & Binui, Gindi Holdings, Mivne and Prashkovsky among the companies involved; some developers say the ministry has already confirmed that their land is clean.

  • Globes
    The nine Sde Dov plots with PFAS indications are named for the first time

    Globes: the Environment Ministry named the nine plots where PFAS indications were found: 103, 105, 106, 107, 301, 303, 2206, 2207 and 2102. Globes matched them to developers, among them lot 103 (Nahmias, UTOPIA), lot 107 (Y.H. Dimri, DIMRI YAMA), lot 2206 (Gindi Holdings), lot 106 (Shikun & Binui), lots 2207 and 2102 (Prashkovsky) and lot 301 (Hadas Capital). The ministry said results will be published once the investigation reports are approved.

  • Rova Sde Dov
    Gindi to sell VOGUE commercial and employment space to REIT 1 for about ₪400 million

    Rova Sde Dov: Gindi Holdings said it signed with REIT 1 to sell all of the commerce and employment space in VOGUE in Central Sde Dov for about ₪400 million. The package is about 5,000 sqm of commerce, about 7,400 sqm of employment, and 127 attached parking spaces, the project's entire income-producing component.

  • CTech
    Tel Aviv luxury housing project faces contamination battle after buyer sues developer

    An option-holder sues Gindi Holdings for a refund of about ₪500K after PFAS contamination findings at Sde Dov.

  • Nadlan Center
    Gindi announced apartment sales in Sde Dov at NIS 49K/sqm

    GINDI VOGUE lists from ₪49,000 per sqm, tens of percent below the district average; around 700 apartments sell within weeks.

Sources

Everything on this page traces to one of these.

Ask about Gindi Holdings's projects

We answer by email, independently, with sourced facts from the field.