Latest Updates

February 19, 2018

Failed Attempt by Owners of Tel Aviv Building’s Basement to Convert Office Space into Apartments

The Tel Aviv District Appeals Committee recently set aside a building permit granted by the city of Tel Aviv to the owner of office space in a building designated for demolition under TAMA 38 who sought to convert the space to residential use.

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February 15, 2018

Tax Authority Defines Rent Earned from Leasing 10 Apartments or more as Business Income

The Israel Tax Authority (ITA) recently published a draft circular for public comment on the issue of classifying residential rent income. The ITA states that, according to its reasoning, income from the leasing of 10 or more apartments should be deemed business income.

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February 8, 2018

The National Committee for Planning and Construction for Areas Prioritized for Residences Approves Urban Renewal Plan

The National Committed decided, for the first time, to submit an urban renewal plan for the residential neighborhood of Kiryat Moshe in Rehovot.

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February 5, 2018

Main Aspects of Plan for Tel Aviv 3rd Quarter Will Enable Construction of 8,000 New Apartments through TAMA 38

The Tel Aviv District Committee for Planning and Construction recently gave final approval for the Tel Aviv 3rd Quarter Plan, making possible the construction of 8,000 new residential units. The road to the plan's final approval, a plan prepared in accordance with section 23 of TAMA 38, was long and filled with obstacles.

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January 9, 2018

Pinui-Binui– The Full Legal Guide

The Pinui-Binui transaction is a common name for combination transactions, in which existing residential neighborhoods are vacated in favor of the reconstruction of a new neighborhood in the same complex. At the same time, existing tenants trade in their old apartments for new ones in a modern neighborhood with new and developed environmental infrastructure.

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December 19, 2017

Changes in the Taxation of Sales of Residential Apartments

A number of changes in the taxation of residential apartment sales will come into effect on January 2018.

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November 28, 2017

Important Real Estate-Related Legal Decisions in 2017

Adv. Ariel Nadler, head of our firm's Real Estate Department, was interviewed by TheMarker's real estate magazine on the cancellation of the Multiple Housing Taxation Law by the Supreme Court. Ariel commented that regulators will now have to provide a solution to those people who already sold their apartments in order to enjoy the tax benefit that was guaranteed. He also noted that the cancellation will affect apartment owners considering to sell.

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November 13, 2017

Seminar with the Tel Aviv Stock Exchange and the Israel Builders Association

Barnea is hosting today with the Tel Aviv Stock Exchange and the Israel Builders Association a seminar for real estate and infrastructure companies exploring a potential IPO. Dr. Zvi Gabbay, Head of the Capital Markets Department, will discuss IPO from the eyes of a regulator.

October 15, 2017

District Court Rejects Scheduled Vote of Purchase Group United Sarona

The Tel Aviv District Court accepted the request of over 50 members of the purchase group United Sarona, represented by Barnea's Head of Litigation, Adv. Zohar Lande, to prevent a vote at the meeting scheduled for today. In the motion that was presented, it was argued that in the process of convening the meeting there were material flaws, including a lack of information.

Article from The Marker

Article from Walla Nadlan

Article from Globes

Article from Calcalist

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September 14, 2017

How Does TAMA 38 Begin?

Dozens of TAMA 38 projects are never implemented for a variety of reasons. Here is a short overview of points to help you ensure your TAMA 38 project is put into practice.

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August 13, 2017

The New Fair Rent Law – What Do You Need to Know?

In July 2017, the Fair Rent Law was enacted, an initiative of MPs Stav Shaffir and Roy Folkman. The main objectives of the New Law are to regulate the relationship between tenants and landlords and to define the minimum conditions for an apartment to be deemed “fit for dwelling.”

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July 25, 2017

Israel’s Sale Law Commissioner Clarifies that Urban Renewal Transactions Must Comply with Provisions of Sale Law

On July 24, 2017, the Sale Law Commissioner in the Israeli Ministry of Construction and Housing published two clarifications concerning the Sale Law and urban renewal projects.

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July 2, 2017

Barnea & Co. Represented Avgol in the Sale of its Rights in the Barkan Plant

Barnea represented Avgol in the sale of its rights in the Barkan plant for NIS 52.5 million. Avgol is in the process of transfering its production center in Israel to Dimona.

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June 18, 2017

Barnea & Co. Represents Africa Israel Europe in a Commercial and Residential Project in Serbia

Barneais representing Africa Israel Europe in the establishment of a new commercial and residential project in Serbia called "Skyline Belgrade" at an estimated cost of Euro 200 million.

June 1, 2017

National Outline Plan (NOP) 38 - Recommendations to Tenants

Urban renewal construction projects, known in Israel either as an NOP 38/1 project (retrofit and renovate), or as an NOP 38/2 project (demolish and reconstruct) began in Israel as a result of the realization that residential buildings whose building permits predate 1.1.1980 must undergo earthquake retrofitting.

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May 29, 2017

Urban Renewal Law (Transaction Organization Agreements)

The Urban Renewal Law, which was promulgated at the beginning of April 2017, is attempting to regulate the phenomenon of obtaining apartment-owners’ signatures on undertakings towards developers and/or various entities (organizers) that are supposedly promoting urban renewal projects.

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May 4, 2017

ASRR Capital Sells its Holdings in Denisra-Ranitec Real Estate

Our firm represented the real-estate public company, ASRR, in a transaction for the sale of its holdings in Denisra-Ranitec Real Estate, at a value of NIS 6.5 million.

April 10, 2017

New Amendment to the Sales Law - A Developer May Not Deposit a Value Added Tax (VAT) Guarantee

The Knesset passed a new amendment (Amendment 9) to the Sales Law (Apartments), whereby developers who build apartments for sale are permitted not to deposit sureties for the VAT component of the transaction, thus decreasing the sum deposited by them.

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March 15, 2017

TAMA 38 – The Complete Guide

The Israeli government resolved to approve and implement a national outline plan, known as TAMA 38, to reinforce buildings from the risk of earthquakes. To which buildings does the plan apply and what should one know before signing a contractual agreement with the contractor?

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March 3, 2017

The High Court of Justice - the Gatekeeper of the New Multi-Apartment Act

Adv. Maya Zisser, Partner in the Real Estate Department in an article in The Marker, following a temporary injunction issued by the High Court ordering the State to explain why the New Multi-Apartment Act should not be canceled. Maya commented that those people to whom the new Law applies should hold back on any actions designed to counter the application of the law, as such actions may be irreversible.

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