Nimrodi is Proving to be a Significant Force for Improvement in Israeli Real Estate

Ofer Nimrodi has long been a major influencer in the Israeli real estate market and he is still proving to be a significant force for improvement in the sector, now more than ever. Taking a look at Ofer’s achievements in the last few years highlights that fact, putting the successful businessman’s ideas into better perspective.

The Chinese Project Financing Deal of 2016

Back in April 2016, CEO of ILDC,OferNimrodi managed to crack the Chinese Project Financing deal, which has had tremendous impacts in not just BneiBrak, but on pretty much all of Israel since then. As the projects are nearing completion, taking a look back at the achievements helps us to gauge the impact it has had.

The Philanthropic Effect of Nimrodi’s Success in Cracking the Deal

There were 19 real estate projects in total that became a reality for the near future on April 17^th, 2016, thanks to that deal, but the most remarkable one of those would have to be the ambitious nursing home project (65,000-sq.m), which would have over a thousand beds for patients after completion.

Improving Employment Rates in BneiBrak

Two of the other projects involved were skyscrapers (60 floors each) for building office space in BneiBrak, which really needed it at that time to bolster the city’s employment and business opportunities.

Affordable Housing in Israel: The Main Part of the Deal

The number was initially set at 21,500 affordable apartments in total, but it could vary, depending on how compliant the tenants and the local authorities are regarding the various clauses of the multiple projects, spread all around Israel. However, that number is likely going to be a lot higher since ILDC has not yet faced any significant problems with the affordable housing projects so far.

Nimrodi’s Business Brilliance Became Apparent with the Deal’s Clauses

It is to be noted that after signing the contract with the Israel Land Development Company (ILDC), the partner from China, backed by government funds, would not only complete the projects but would actually finance 70% of the project as well. The rest of the 30% would, of course, be supplied by ILDC. Given that the project is estimated to be worth around $3.7 billion, this was no easy feat.

The Chinese company would be paid off in twoyears’ time post project completion, according to the primary terms of the deal, but the brilliance it took to make the necessary calculations and convince the government-backed company to bring their innovations to Israel is noteworthy. This was and still is till date, the largest foreign investment in Israeli real estate.

Right now, the projects are starting to near completion in some areas, resulting in Ofer’s efforts bearing fruits for the country of Israel. The hope is that the powerful Nimrodi family, under his guidance will continue to produce similar results from their future ventures as well. Judging by the man’s success so far, that is highly probable as well.