Israel Canada
Israel Canada is building RAINBOW on Eshkol lot 111 and, through Pangaea Sde Dov, won municipal lot 306 for the neighborhood logistics center. It paid about ₪1.3B for the 480-unit Rainbow plot in the 2021 first-tender wave. By August 2025 it had sold 234 Rainbow apartments for ₪2B at an average of ₪11M; Q1 2026 filings later showed about 300 units sold at ₪85,700/sqm even as the sales pace collapsed.
Tender record
- Won lot 111 (RAINBOW, 480 units) in the 2021 first-tender wave for ~₪1.3B
- Pangaea Sde Dov won Tel Aviv municipality lot 306 (logistics center and offices), August 2024
- Ashtrom contracted to build Rainbow for ~₪736M, January 2026
Projects
In the news
- The financial reports reveal: apartment sales in Sde Dov have stalled
Q1 filings show the sales pace collapsing. Israel Canada had sold about 300 units at an average of ₪85,700 per sqm.
- Sde Dov: two projects worth NIS 1.8B go to execution
Mako reports Rainbow moving to execution with Ashtrom as contractor, works from January 2026, the project about 70% pre-sold.
- Israel Canada's average Sde Dov apartment price hit NIS 11M in Q2
Rainbow's average closed deal reaches ₪11M, a record for the project, with 234 units sold for ₪2B.
Sources
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