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עברית
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עברית
StatusApproved for deposit subject to conditions, January 2026
  • TypePinui-binui
  • LocationTalpiot, Jerusalem
  • Shiluvim's roleProject management and representation for apartment owners

'Banks Junction' is changing

In a place many have known for years as 'Banks Junction', a meaningful pinui-binui project is now being advanced, with Shiluvim supporting the apartment owners.

Derech Hevron, Ein Gedi and Shalom Yehuda, Jerusalem

85
Existing apartments
~340
New apartments
9
Buildings
12
Developer offers reviewed
7
Commercial units
Selected project developer
Kardan Real Estate
Architectural rendering of the Derech Hevron project - aerial view of the three towers and the commercial frontage

How we have advanced the Derech Hevron project

From the apartment owners' initial organisation, through the developer tender and the selection of Kardan, to advancing the planning with the planning authorities.

  1. Organising the apartment owners and forming their committee

    Establishing a functioning owners' committee and giving the apartment owners a voice.

  2. Helping select the lawyer

    Selection and preparation ahead of the tender.

  3. Building a detailed tender

    Prepared with the owners' committee and legal counsel.

  4. Publishing the tender and receiving offers

    12 offers from leading developers were received for review.

  5. Analyzing offers and selecting the developer

    Kardan Real Estate was selected to advance the project.

  6. Accompanying negotiation and alignment

    Agreement abstract, residents' assembly, social survey, and required-majority signing.

  7. Planning support

    A complex of approximately 8 dunams, regional committee hearing in January 2026.

    Current stage

What was secured for apartment owners

The main benefits and protections set in the agreement with Kardan Real Estate, binding on the developer toward the apartment owners.

40 sq m

Additional floor area in the new apartment

Apartment owners will receive a new apartment the size of their existing apartment, plus an additional 40 sq m, along with a sukkah balcony, a storage unit and a standard parking space registered to the apartment at the Land Registry.

In practice, for most apartments the total benefit may be greater than 40 sq m, depending on the characteristics of the existing apartment.

Above the prevailing standard
40sq m

Compared with about 25 sq m in adjacent projects

A larger addition, alongside recognition of additional existing areas and a broader package of benefits for the apartment owners.

Surplus profit

Apartment owners share in the success

A mechanism for sharing profits on completion of the project.

Evacuation and construction period

Developer-funded

Rent, removals, dismantling and a cash allowance towards the new apartment.

10 years

Maintenance fund

A dedicated fund covering management and maintenance fees for apartment owners who return to live in the new apartment, for 10 years. The fund is intended to make the return to the new apartment safer and more comfortable.

Throughout the process

Apartment owners' involvement

Planning documents approved by an inspector on behalf of the apartment owners, and professional support throughout the planning and execution stages.

Derech Hevron and Shalom Yehuda: the story behind the plan

The Derech Hevron and Shalom Yehuda project is a large-scale pinui-binui project in Jerusalem, which grew from a structured organisation of the apartment owners with a clear goal: safeguarding their interests throughout.

The apartment owners weren't left on their own. Shiluvim supports them throughout: from the initial organisation and forming the complex, through the developer tender, choosing the professionals and leading the negotiation, all the way to the ongoing navigation of the planning stage with the planning authorities.

  • 12 developer offers reviewed in the tender
  • Kardan Real Estate selected to advance the project
  • Raisman Deutsch & Co. selected to represent the apartment owners
  • Plan advanced to a District Planning and Building Committee hearing in January 2026

As the planning progressed the complex was expanded and additional plots were added, consolidating a complex of approximately 8 dunams.

Street-level rendering of the Derech Hevron project - commercial frontage, preserved building, and the light rail

Street view - commercial frontage, the preserved building, and the light rail along Derech Hevron.

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The professional team supporting the apartment owners

On a complex pinui-binui project, apartment owners need more than an agreement. They need a professional team that understands law, appraisal, planning, inspection, and process management. Shiluvim integrates the work between the professionals and makes sure the information reaches the apartment owners clearly, methodically, and practically.

Shiluvim coordinates the entire process

The lawyers, the appraiser, the inspector, and the planning teams each focus on their professional domain. Shiluvim's role is to connect the parties, maintain workflow continuity, surface information for the apartment owners, and ensure the process moves forward from understanding rather than pressure.

Key questions about the project

What stage is the project at today?

The District Planning and Building Committee approved the plan for deposit subject to conditions in January 2026. The current stage is to fulfil the conditions set by the planning authorities before the statutory planning process can proceed.

What does "approved for deposit subject to conditions" mean?

This is a significant planning milestone: the committee has approved the plan in principle for statutory deposit, subject to additional requirements being met. It is not a building permit and does not mean that residents are about to move out, but it is an important step towards approval of the plan.

What was Shiluvim's role on the project?

Shiluvim supported the apartment owners in their initial organisation and the formation of their committee; managed the developer tender, review of proposals, shortlisting and selection of the developer, and the negotiations; and continues to steer the planning process before the planning authorities.