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Naot Margalit

About the project: Acquisition of an abandoned psychiatric hospital and its transformation into a boarding school for at-risk youth.

Improvement challenge : The property was built in 1957 on agricultural land which was declared a metropolitan resort area in 2003 and was designated for evacuation and demolition.

Arranging the licensing of the buildings and the business license through a precedent-setting legal case.

Project period: 24 months from purchase through master plan approval to occupancy.

The result: Triple the value of the property and rent it as an income-producing property to the Ministry of Welfare.

Location: Rishonim Junction southeast of the city of Rishon Lezion.




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