Dedicated to building Jerusalem for generations to come, Extell Israel was established with the historic purchase of 500 dunams of land in Central Jerusalem. Our team is advancing a lasting solution for the leaseholds in the heart of the city, while ensuring the development of key properties alongside vital public infrastructure projects that support the capital's continued growth. We view it as a great privilege to help build the future of Jerusalem.
Extell Israel is guided by the same visionary leadership that drives the internationally recognized, New York City-based Extell Development Company. Over three decades, Extell has built an extensive portfolio of prime residential, office, hotel, and commercial properties across the United States comprising over 3 million square meters. This success stems from the defining principles of the Extell name – excellence and intelligence – pairing meticulous attention to detail with inspired thinking across every facet of real estate development. Extell Israel now brings this standard to Jerusalem.
Extell Israel is proud to develop Jerusalem with deep respect for its timeless significance. We are dedicated to creating premier properties in the heart of the city, creating new residential, hotel, commercial, and public spaces of the highest quality for buyers, renters and visitors to enjoy for generations.
Extell Israel prioritizes securing the property rights of the tenants on our land, offering them a choice of ownership or lease extensions in a new building for a nominal fee. This opportunity is provided at no cost to long-term residents living in their primary home who opt for an apartment of equivalent size. This urban renewal process will deliver luxurious new residences and a significant increase in property value.
Together, we will create a strong, thriving community in the heart of the city and secure an enduring legacy as we build Jerusalem for generations to come.
Extell Israel provides tenants with a clear path to new, permanently owned apartments within a modern building. Each project is designed to elevate both quality of life and property value, allowing homeowners to enjoy the security and comfort of an advanced, contemporary development built with modern structural protection and integrated safety features.
Interactive slider showcasing a potential project with the ability to drag left and right to view the "Before" and "After" states.
Your apartment was built on land leased to KKL until approximately 2050. The diminishing lease term steadily erodes property values and makes it increasingly difficult to secure mortgages for apartments built on the leased land, all while a cloud of uncertainty looms over the expiration of the lease. The time has now come for a solution.
Extell Israel is providing an immediate solution for securing your property rights rather than waiting for external solutions that may never materialize. It allows you to convert the uncertainty of holding an expiring leasehold into the stability of full ownership. As the owner of the land, Extell Israel is the only entity with the legal standing to deliver a permanent title and the long-term security that comes with it.
Court proceedings often span years, and no one can predict how they will end. As a general rule, the court does not intervene in contracts between parties, and it is highly doubtful it will do so in this complex case. In any event, the current court case does not address the cost of extending the lease at all, and KKL has made it clear that even if the lease were to be extended by a court order, the costs could be exceedingly high and would ultimately be passed on to the tenants. In contrast, the goal of reaching an agreement between KKL and Extell Israel, if one is reached – and certainly between Extell Israel and the tenants – is to benefit the tenants and grant them immediate certainty and permanent security.
The relevant legislation was introduced as early as 2014, but has failed to mature into any legal framework over the last decade. Even if efforts to advance legislation continue, any proposal involving retroactive changes to private property arrangements may face significant legal, political, and practical challenges. This situation leaves your expiring leasehold rights in continuous uncertainty, while their value continues to erode. This means the entire matter will not advance for many more years, during which all parties lose. In contrast, reaching an agreement with Extell Israel secures your property for the long term and provides immediate certainty.
Our goal is to turn uncertainty into a tangible opportunity. Under this plan, you will receive a new, modern apartment in a high-quality building. The new apartment will be larger than your current home, depending on your preference, and will include a safe room and private parking. Furthermore, you will gain guaranteed, permanent registered ownership of the property, resolving the leasehold expiration issue once and for all.
This is the great news: Extell Israel’s goal is to help tenants convert their long-term leaseholds into full, registered ownership (Tabu). At the end of the process, the apartment will be permanently yours. Additionally, tenants have the option to simply extend their leasehold terms instead of converting their rights to full ownership.
Extell Israel offers a direct path to permanent ownership or lease extensions within luxurious new developments for nominal fees. For tenants who have lived in their apartment for years and choose a new apartment of equivalent size, no fees apply. Additionally, for tenants who prefer to simply extend their leasehold terms rather than convert to full ownership, reduced fees apply. To review the full offer – which is based on leasehold purchase date, apartment size, and more – please access the details below.
The current uncertainty surrounding expiring leaseholds negatively impacts property values and continuously erodes prices. Securing full, registered ownership removes this risk entirely. Permanent ownership leads to an immediate increase in property value, providing tenants with significant financial benefit.
In official court filings, KKL has stated it holds no legal obligation toward sublessees after the original lease period ends. The master lease agreements held by KKL include extension options that are subject to renewal fees reflecting the full value of the land and all buildings on it, estimated at billions of shekels. Furthermore, KKL has confirmed that it has no obligation to bear this financial burden on behalf of the sublessees, nor any obligation to extend the lease at all. All actions KKL is currently taking are done out of a desire to resolve a public need rather than a legal obligation, and therefore a direct agreement with Extell Israel is the surest path to secure the future of your property.
אקסטל הגיעה להבנות עם 120 מחוכרי אדמות הכנסייה לפינוי־בינוי
ביטחון הדיירים קודם לכל
מו"מ מתקדם בין קק"ל לברנט: "500 דונם בשווי מיליארדים יועברו באופן מיידי
הדרך לביטחון ולוודאות: ההסדר המתגבש ביחס לקרקעות בחכירת קק"ל הוא הבשורה הטובה ביותר לתושבי שכונות לב העיר ירושלים
Moshe serves as Senior Vice President of Development at Extell’s headquarters in New York, where he has worked since 2015. Moshe holds an M.A. in Real Estate Development from New York University.
Former Acting Director of the Business Division and Acting Director of the Southern District at the Israel Land Authority, Deputy Director General for Government and Society at the Prime Minister’s Office, Senior Assistant to the State Attorney, and Attorney in the High Court of Justice Department.
Gary Barnett is the Chairman and Founder of Extell Development Company, based in New York. Since establishing Extell in 1989, Gary has successfully executed over three million square meters of real estate development projects across the United States, gaining recognition as the top developer in New York City. A native New Yorker, Gary earned a B.A. in Mathematics from Queens College and an M.A. in Economics from Hunter College.
Former Chief Government Appraiser, Jerusalem District Director and Authority Appraiser at the Israel Land Authority, Municipal Appraiser for the Jerusalem Municipality, and independent appraiser.
Since 2006, Ohad has served as a volunteer on the Board of Directors of Ogen – a non-profit social lending and mentoring fund dedicated to advancing life-changing opportunities for individuals, families, small business owners, and non-profit organizations.
Eytan brings experience and personal insight to the urban renewal process, guiding residents while securing their long-term rights.
Former City Engineer of Modi’in-Maccabim-Reut and Director of the Licensing and Supervision Department at the Jerusalem Municipality.
