Our firm represented Yossi Avrahami Group in a transaction to sell approximately 50% of a 4-acre land parcel in Eilat, valued at approximately NIS 40 million. The transaction also included a contingent consideration pending future urban planning approval, for an additional NIS 20 million. As part of the transaction, the parties also executed a Joint Venture Agreement and a Mutual Use Agreement to manage their relationship, covering all aspects related to the management of the Avrahami Group and the development of the joint project’s residential, hotel, and commercial purposes. Notably, navigating the Israel Land Authority regulations, financing, and construction complexities were key components of this successful transaction.
June 05, 2024
