Entrepreneurial company - Kim Lustigman l Architectural firm - Sandrovich l Project location - Semadar 5-3, Ramat Gan. A residential project built as part of urban renewal in the sought-after neighborhood of 'Old Settlement' in Ramat Gan. The companies have been working on developing the project for over a decade. Over the years, the project progressed significantly, but due to legal reasons, it had to be revisited and re-planned. We have been working with Kim Lustigman's company throughout the years and have been involved in all the processes, in order to bring the project to the market.
The Lustigman project in the Old Settlement has undergone several planning cycles over the years, and its current form is precisely tailored to the target audience. After analyzing the environment and the needs of the target audience, we decided to build a project that offers new and luxurious apartments with a sense of privacy and space. As a result, the original plan for a single building with 3 wings has progressed into 3 buildings with 2 apartments per floor. We built the apartments on larger areas than usual in the area, with 4-room apartments of about 112 square meters and an additional balcony of about 15 square meters, as well as 5-room apartments and unique premium apartments. The project is intended for a diverse audience, including residents of the neighborhood who are looking to renew or continue living there, young couples who want to live close to Tel Aviv while being part of a community in a green and peaceful environment. The combination of the project's location in an environment reminiscent of a rural settlement adjacent to Yarkon Park and Tel Aviv, together with high-quality construction and apartment planning, allowed us to achieve the goal of selling about 50% of the project within 4 months with minimal advertising.
The Lustigman project in the Old Settlement has undergone several planning cycles over the years, and its current form is precisely tailored to the target audience. After analyzing the environment and the needs of the target audience, we decided to build a project that offers new and luxurious apartments with a sense of privacy and space. As a result, the original plan for a single building with 3 wings has progressed into 3 buildings with 2 apartments per floor. We built the apartments on larger areas than usual in the area, with 4-room apartments of about 112 square meters and an additional balcony of about 15 square meters, as well as 5-room apartments and unique premium apartments. The project is intended for a diverse audience, including residents of the neighborhood who are looking to renew or continue living there, young couples who want to live close to Tel Aviv while being part of a community in a green and peaceful environment. The combination of the project's location in an environment reminiscent of a rural settlement adjacent to Yarkon Park and Tel Aviv, together with high-quality construction and apartment planning, allowed us to achieve the goal of selling about 50% of the project within 4 months with minimal advertising.
One of the challenges in selling the project was to enable the buyer to reach a decision to register in the first meeting. In fact, we achieved a result where 50% of the meetings resulted in registration, and 50% of them were in the first meeting, despite being before the committee's decision (about 50 months before delivery). The sales were made from offices in Herzliya, with minimal means in a project with several buildings, different orientations, and models.
We created a database of interested parties during the planning phase and developed marketing materials to help them understand the project relatively quickly. The advertising campaign began only after selling about 40% of the project's apartments, and even then, the advertising was relatively limited, mainly to create awareness of the project's existence.
The product adaptation process and maximizing the areas involved a planning change to 3 buildings with 2 apartments per floor (spacious apartments). This also included raising the standard level. Among other changes, the planning of the duplex apartments was altered to create 3 different and unique penthouse apartment types.
