Carasso Real Estate has begun the occupancy phase of the "Flora" project in Kiryat Shalom, Tel Aviv, established in partnership with Ronen Shitrit and VENN. The project includes 93 housing units and is the first to reach the occupancy stage in the new residential complex developing in northwestern Kiryat Shalom, where a total of approximately 650 housing units are planned.
The new complex is being built between Hakhorshot Park and Kibbutz Galuyot Road, adjacent to the Shapira and Florentin neighborhoods, offering prices lower than standard Tel Aviv rates. The area's design features textured construction and relatively moderately-heighted buildings, alongside public and green spaces. Nearby is Hakhorshot Park, spanning about 80 dunams, and as part of the area's development, an additional 30-dunam park is planned.
One of the advantages of this complex, compared to new neighborhoods built on the outskirts of cities, is its reliance on existing urban infrastructure. The area already has active schools and kindergartens, the School of Nature and Environment, the Goren Goldstein Country Club, community centers, and public gardens.
This new development comes at a time when South Tel Aviv continues to attract interest from homebuyers, partly due to price gaps compared to other parts of the city. According to Madlan data, the average price of an apartment in Kiryat Shalom is about NIS 3.1 million, compared to an average of NIS 4.4 million in Tel Aviv-Jaffa - a gap of roughly 30%.
Transportation in the area is also expected to transform in the coming years. Kiryat Shalom is close to Kibbutz Galuyot Road and the Ayalon Highway and is connected to the municipal bicycle path network. The Kibbutz Galuyot station of the Light Rail's Green Line is currently under construction nearby, which is expected to improve accessibility from the area to other employment and commercial hubs in the city and the metropolis.
The Flora project is the first of several planned by Carasso Real Estate in the area. The company owns two additional plots in Kiryat Shalom, where phases B and C of the project are planned to be marketed next year.
Yaron Zubari, Deputy CEO and Head of the Residential Division at Carasso Real Estate, stated: "Today, the Kiryat Shalom neighborhood offers a unique combination in Tel Aviv - on one hand, significant green spaces and Hakhorshot Park, and on the other, an existing and functioning urban envelope, with educational institutions, a country club, community services, and accessibility to the city center. The occupancy of Flora, as the first project to be populated in the new neighborhood in northwestern Kiryat Shalom, is a milestone in the development of the area."
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