Mediterranean Towers, a TASE-listed senior-housing operator with eight homes, holds North lot 150, won on 26 March 2025 in senior-housing tender 268/2024 for ₪447.7M including development, through a partnership in which it holds 51 per cent and Clal Insurance 49 per cent. The company plans up to 300 senior apartments on the 4,663 sqm lot, which it calls 'the Sde Dov home'. As of its August 2026 report the scheme was in initial planning, with no architect, contractor, completion date or marketing.
Senior housing, like Azrieli's Palace project, is usually sold as a deposit-and-licence arrangement rather than as ownership of an apartment. At Sde Dov nothing is on offer yet: the company reports no marketing and no completion date.
Every recorded acquisition in the district, with the source for each.
₪418,518,018 for the land plus ₪29,155,754 development, excluding VAT, on 4,663 sqm, 6 bids (lowest ₪166.0M). The land bid was about 59 per cent above the ₪262.6M appraisal. Won by Mediterranean Towers Project Management Senior Housing LP, the company's joint venture with Clal Insurance; final ILA approval 2 July 2025, land paid 21 September 2025.
Published facts a buyer would want before signing. Each carries its source.
The company's 2025 report says it had not yet begun planning the Sde Dov home, could not estimate a completion date, and had no contractor, financing or marketing in place. The June 2026 quarterly report describes initial planning at immaterial cost. The company carried the asset at ₪454.9M at the end of 2025 after a ₪25.6M revaluation loss and expects ₪638.1M of investment excluding land.
The company reports that the Environment Ministry told the Israel Land Authority of PFAS exceedances in Sde Dov groundwater and that, according to documents the Authority sent it, the Sde Dov home, the northernmost lot in the district, lies outside the area where the exceedances were found. That is the company's reading, not an independent finding.
Published figures that do not match. Both readings are given rather than one being chosen.
Both are true at once: Clal supplies 60 per cent of the equity but holds 49 per cent of the partnership. Earlier versions of this record said Clal held 60 per cent, which is wrong.
The company's own report and the tender record agree on 4,663 sqm; the rating report's 4,633 is most likely a transposition.
North-complex tenders close. Ynet and Nadlan Center put the wave at 2,744 units and ₪4.59B; Calcalist rounds it to 2,750 homes and ₪4.6B.
Nadlan Center publishes the North-tender winner table, including Dimri, Melisron/Aviv, Tashluz, Mediterranean Towers, and Shikun & Binui + Shapir.
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