Urban renewal is one of the primary growth engines of Israel’s real estate sector. Given the scarcity of available land in city centers, as well as the aging of buildings and neighborhoods, these projects will become even more important in future years.
Yigal Arnon & Co. has the multifaceted expertise required in urban renewal matters, which are complex by their very nature. First, they involve real estate law, planning and building issues, tax matters, banking and finance law, and litigation. Second, they are multi-party transactions, with each party having its own financial and other interests. Third, each project has its own attributes and requires solutions tailored specifically to them.
We understand the financial and legal concerns and interests of key players in urban renewal deals. We also have a long and successful track record with transaction planning, and in representing clients in discussions with planning authorities, tax authorities and banks. In fact, Yigal Arnon & Co. assisted in forming the regulatory framework for bank financing of Tama 38 renewal projects.
Although most of our clients are developers and contractors, we also represent many homeowners in regard to urban renewal projects.
Yigal Arnon & Co. is a leader in urban renewal law. We:
Since urban renewal is a relatively new area, many lawyers in Israel have experience in drafting the contracts but not implementing them—especially not in regard to large-scale projects. Yigal Arnon & Co. has invaluable hands-on experience, having been involved in several projects where construction has already begun.