Friday, January 24, 2020

(Courtesy of TAMA 38) As of June 2019, here is an estimate of the TAMA 38 activity in Israel according to Madlan (https://tama38.madlan.co.il/):

1,171 buildings have been re-constructed under the TAMA 38 program

1,752 buildings are currently under construction

1,321 are in various stages of planning

1,650 are in the permit process

TAMA 38 has become a mainstream program for modernizing apartment buildings in Israel.

Every week there is news about TAMA 38. Generally, the news is about regulations and guidelines that are being reviewed or modified (often to the benefit of the developers). Sometimes the news is about concerns the municipalities have about overbuilding and developing more infrastructure in their communities. And once in a while, there is news about TAMA projects that have encountered challenges. Overall, the vast number of TAMA 38 projects (over 95%) are completed to the satisfaction of the tenants. But, like any industry, as more players enter the market, more challenges can arise.

Stay tuned for more TAMA 38 updates.