Apartment overlooking Jerusalem's Old City sells for NIS 66.3m

Apartment overlooking Jerusalem’s Old City sells for NIS 66.3m

YH Dimri and Bomel Israel have sold a luxury apartment in Jerusalem for NIS 66.3 million. The apartment, which overlooks Jerusalem’s Old City walls, is part of the David’s Village project adjacent to Mamilla. Another apartment in the building was sold to the same purchaser for NIS 25 million.

The luxury apartment has 510 square meters of built space with a 60 square meter balcony and an open view of the Old City walls. The less expensive apartment extends over 386 square meters, with a 24 square meter balcony. It is situated below the first apartment but has no Old City view, which partly accounts for the difference in price between the two. The buyer is an American-Israeli in cloud computing services who intends to combine the apartments. Both apartments were sold at the shell stage, and the buyer will design and build the interior himself.

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David’s Village is part of the Mamilla project constructed by a number of companies, Alrov being the most prominent. It extends over 120 dunams (30 acres), and includes the David Citadel Hotel, the Mamilla Mall, and two to three floor residential buildings. Nineteen years ago, Africa Israel and Alrov sold six dunams of land in the project that they held jointly to NAM, controlled by the Shirazi family, and Bomel Israel, owned by Bobby Rechnitz. In 2012, YH Dimri bought NAM’s share in the land for NIS 77.5 million, and began to promote the project.

The applicable Urban Building Plan allowed the construction of 78 housing units on the land, but because the size of the apartments was larger than originally planned (160 square meters), the number of units fell to 60. Construction was completed, but the companies delayed selling part of it because of the wars. Last month, as mentioned, two sales were made.

Prices of the apartments in the project range widely. The cheapest is NIS 54,000 per square meter and the most expensive is NIS 120,000 per square meter. The main criterion for the price is the floor. The lower floors have no view, while the upper floors overlook the Old City walls, a feature priced in the tens of thousands of shekels per square meter by buyers from the religious and haredi communities. Most of the buyers of apartments in the project are wealthy overseas residents.

Published by Globes, Israel business news – en.globes.co.il – on April 15, 2026.

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