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they now recieved permits for basements
+ the construction company wants another entry for trucks to the site from Ayalon highway
 

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Dori construction is the contractor
hopefully their financial mis-budgeting of projects problems
wont delay this even further
 

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Theres no indication it will have any effect on their project pipeline
they have 5 billion(!) worth of contracts works.
 

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OK I have some bad news about the project.
I was sitting in the train today and two guys were sitting next to me.
One of them happened to be a buyer in the project and he was pissed off.
He was telling the other guy what was going on with the project and its not good.
First of all the project was delayed alot because of some underground soil pollution (I think it came up before on this forum).
Then as we know Dori got into financial trouble.
To cut the long story short the project is being delayed further and might not get completed at the very least until 2019 (possibly even later).
The developer is considering changing the construction company which is going to bring further delays to the project (at least half a year according to that guy).
In any case he said that he is suing them and intends to get some of the money back that he paid (apparently it was written into the original purchase agreement).
 

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Seeing as we are near 2015 and most likely they start construction during next year, its also likely the project completion will be 2019
 

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It will.
The guy in the train was pretty sure about that (and he bought an apartment there so he obviously knew what he was talking about).
 

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they have a few more months of digging, ground water works, sealing and so on before any construction starts.
they have permits for basements and final stages of permits for the towers.

 

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so in Israel, people buy houses before they're made and they have to hope that the owner doesn't go bankrupt.
So where do you guys live while the complexes are U/C? Your parents houses?
 

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buying a project on paper or early consruction is a common thing anywhere.
you get a cheaper price for financing with down payments the developers so that some of their
project financing money is already available and they dont need to take out loans.

this site is probably one of the hardest to build, it has many challenges with electricity, pipes,
difficult access, groundwater, the new access road loop and so on.
they estimated construction from 2013-2017. obviously starting 2015 it will be 2018-19.
 
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