Building urban renewal projects.
Anshei Ha'ir enters 2026 with a real permit and financing wave that moves the pipeline forward, but the 2025 report shows that the balance sheet and debt have moved ahead of profit, while the near-term execution layer still runs mostly at 10% to 19% gross margins.
Within the early-2026 filing sequence, only Yehuda Gur 7 and Epstein 4 already combine permit receipt, full financing, and a planned 2026 construction start. Mana 4 is very close after its financing agreement, while Even Gvirol and La Guardia are still mainly legal-progress or l…
The early-2026 permit wave improves Anshei Ha'ir's next pipeline layer, but near-term earnings still depend mainly on three advanced projects carrying only a 14% weighted gross margin.
Anshei Ha'ir's 2025 balance-sheet jump was not funded by apartment buyers but mainly by the liability layer to landowners, public bonds, suppliers, bank project finance, and a public equity raise that improved the cushion only partially. Once restricted cash and current bonds ar…
