The Most Expensive Dirt in Israel: Every Sde Dov Tender, Priced

Read the table as a sequence of closed (or, in 2024, offered) waves, not as a single sale. A RAMI win buys development rights on a lot. Design plan, excavation permit, full building permit, and construction still sit ahead. Israel Canada paid about ₪1.3 billion for RAINBOW’s 480 units in 2021; the district’s first excavation permit arrived in March 2024.

Where the compiled record does not name a winner or a cash total, the cell says so. September 2024’s ₪25 billion figure is a headline estimate for land put on offer, not a sum of winning bids. Those bids landed in February and March 2025, after appeals froze the wave.

RAMI put the first Eshkol housing tender on the market in March 2021: 1,916 units, including 324 long-term rental apartments. The August 23 close covered 1,540 homes at ₪4.4 billion. The 324 rental units were not in that cash total; they closed later, to Shikun & Binui, in December.

Named winners of the record wave: Avisror Moshe & Sons; K.M. Madaf 5; Meshulam Levinstein with Allied; G.Z. Madaf 35; and Israel Canada, which took 480 units for about ₪1.3 billion. That Israel Canada plot is RAINBOW on lot 111. Avisror’s lot 101 became ASHIRA (406 units); coverage put the land payment around ₪730 million. Levinstein and Allied later appear, with Mivne, on ZOHI at lot 110 (230 units).

Hanan Mor Group won lot 107 in the 2021 wave for ₪1.5 billion. In May 2024 a ₪3.2 billion debt settlement was approved and the Sde Dov land was put up for sale. Y.H. Dimri bought the same lot for ₪1.1 billion in July 2024 and launched DIMRI YAMA (458 units plus a hotel) from ₪3.75 million in December 2025. The 2021 price was not a floor. It was a bid in a frenzy, and one of those bidders did not survive it.

On 22 March 2022 a smaller Eshkol follow-up closed at 241 units for ₪654 million, about ₪2.71 million of land per unit. Globes called the result a disappointment. The compiled record does not name those winners. The per-unit land price had barely moved from 2021’s ₪2.8 million; the volume had collapsed.

Six days later Claude Nahmias won a RAMI tender in Eshkol. That plot is UTOPIA on lot 103: 337 units, about five dunams near the S.Y. Agnon and Levi Eshkol junction. A partnership-dissolution request was approved in June 2024; Nahmias completed the purchase in December 2024. Construction started in October 2025.

On 12 April 2022 Shikun & Binui won again through Dira LeHaskir (דירה להשכיר, the government long-term rental company): lot 106, 511 rental apartments. Together with lot 109’s 324 units, the company holds 835 long-term rental homes in Eshkol that will not appear on the private presale market. Plan TA/4444 mandates about 6,900 diur mechalil (דיור מכליל, inclusive housing) units inside the 16,000-home program. These lots are how some of that mandate is delivered.

The local planning committee gave final validation to the Central and North detailed plans on 19 August 2024. Thirteen days later RAMI launched the largest residential tender wave in Tel Aviv’s history: ten tenders, 7,159 units in the Center and North plans, land for more than 7,100 homes, with a headline value of about ₪25 billion. Globes and TheMarker both used that scale. It was an offer, not a close.

On 25 December 2024 every Sde Dov tender in that wave was postponed after two appeals against the detailed plans, one on the wind regime and one on land rights. A fifth postponement followed on 28 January 2025. sdedov.co.il logged another delay on 30 January, still citing objections to the ~7,100-unit mega-tender. Central tenders got a green light on 3 February 2025 after an appeal was rejected.

The leftovers are still a story. In May 2026 Globes reported that a 217-unit Central-district tender had been postponed twelve times since September 2024, and that other leftover tenders were also stuck. The mega-wave did not clear as one sale. Buyers looking at a 2025 Central or North contract are looking at the lots that did close, not at a finished auction book.

On 19 February 2025 the Central tenders closed: land for 4,191 apartments, about ₪6 billion. Ynet’s headline said the billion-shekel tenders had been cut almost in half. The compiled record states the land price at about 40 percent below 2021. Named winners: Israel Brothers; Gindi Holdings on two plots; Electra Residence with Dan Nadlan under the Nahor vehicle; Luzon Ronson; Hagag Group (350 units, about ₪756 million); and A.A.I. Abu with Tomer Koko.

Gindi’s consumer project is GINDI VOGUE: 708 units in Central, about 250 metres from the sea, a 44-story tower with mid-rise and fabric buildings. In June 2025 the company listed from ₪49,000 per square metre, tens of percent below the cited district average of ₪70,000 to ₪85,000, and sold around 700 apartments within weeks. Hagag’s FIRST on Central lot 2270, first line to the sea, launched in July 2025; 46 sales followed in two months. The design plan was approved in March 2026.

Luzon-Ronson signed about ₪700 million of financing for its Central project in June 2025. Electra, Israel Brothers, and Abu–Koko have no consumer project pages in the registry. A cheaper land basis showed up first in Gindi’s list price.

On 4 March 2025 Prashkovsky, bidding with Dira LeHaskir, won both long-term-rental tenders: 966 apartments that will not be sold on the private market. A later third rental-housing project on Central lot 2207 was approved on 21 June 2026; the research does not name Prashkovsky as that lot’s owner.

On 16 March Dan Real Estate bought a private-land plot for about ₪600 million: 260 units plus 300 square metres of commerce, in an iskat kombinatzia (עסקת קומבינציה, combination deal) that pays the landowner in finished apartments rather than a pure cash land price. Dan beat Gindi, Electra, Azorim, and Zemach Hammerman. Separately, Dan holds Central lot 2208: 437 units and a 45-story tower, design plan approved 20 May 2026. Electra’s February partnership with Dan (Nahor) is a third Dan-linked line in the ledger.

On 26 March the North-district tenders closed: 2,744 units, ₪4.59 billion. Winners: Y.H. Dimri (275 units); Calanit; Shikun & Binui with Shapir; Aviv/Melisron (320); Euro Israel (360); Luzon Ronson with Shimon Amir; Yossi Avrahami; Tashluz, Yitzhak Tshuva’s vehicle (177); Mediterranean Towers (300 senior-living units); and A.M. Israel with Union Living (rental). sdedov.co.il reported a first-four-tenders subset of 1,737 units the next day. The Northern complex’s 4,028 units had cleared appeals on 20 March. Dimri’s 275 North units are a different plot from DIMRI YAMA on Eshkol lot 107.

Land cost is not list price, but it is the floor a developer has to recover. Eshkol’s 2021 winners are already selling against a ₪2.8 million-per-home land basis. Calcalist put Israel Canada’s average closed RAINBOW deal at ₪11 million in Q2 2025 (234 units sold for ₪2 billion). ASHIRA recorded a ₪19.5 million penthouse in August 2024. Central’s 2025 winners started from a land basis about 40 percent lower. Gindi’s ₪49,000-per-square-metre launch was the first public demonstration of that math.

The district’s own market page, drawing on Israel Tax Authority filings updated August 2026, already shows a complex split: four-room averages around ₪9.6 million in Eshkol versus ₪6.5 million in Central; five-room averages around ₪11.4 million versus ₪8.6 million. Those are transactions, not tender results. Later, cheaper dirt in Central is showing up in closed deals.

Cheaper land is not a cheaper, faster, or cleaner close. A 217-unit leftover tender was still being postponed in May 2026. PFAS contamination from firefighting foam was disclosed in February 2026, with possible delays to the 16,000-unit build-out. Globes reported a district-wide sales slowdown in Q1 2026 filings. First occupancy is targeted around 2029. Hanan Mor’s ₪1.5 billion 2021 lot is now Dimri’s at ₪1.1 billion.

Ask which wave paid for the dirt under the contract. A 2021 Eshkol RAMI win, a 2025 Central win, a 2025 North win, a Dira LeHaskir rental building, and a combination deal on private land are five different cost bases, permit clocks, and counterparties. The 2021 record priced the field as if the frenzy would hold. The 2025 close priced it again. Your purchase sits on one of those two marks, or on the rental and private-land tracks that never entered the private for-sale book at all.