Extell Israel was established with the historic purchase of 500 dunams of land in Central Jerusalem. The purchase, completed during the height of the Swords of Iron War, demonstrated strong confidence in the State of Israel's long-term vitality. As part of a vision to build Jerusalem for generations to come, the company is advancing the development of key properties alongside vital public infrastructure projects that support the capital's continued growth.
Furthermore, we remain deeply committed to the tenants across our portfolio. We offer them a direct path to full home ownership within the urban renewal process, securing their property assets for the future. 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 Extell Development Company headquartered in New York City. Over three decades, Extell Development Company has built an extensive portfolio of prime residential, office, hotel, and commercial properties across the United States comprising over 30,000,000 square feet. The Company’s name is derived from the combination of Excellence and Intelligence, two key tenets which drive each Extell project. This same approach is at the core of Extell Israel as we bring high standards of excellence and execution capabilities to developing 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,
fully-owned apartments within a modern building.
This 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 the Sokolov project, with the ability to drag left and right to view the "Before" and "After" states.
The apartments were built on land originally owned by the Church and leased for a limited period. As the lease term nears expiration, the diminishing duration steadily erodes property values and makes securing a mortgage increasingly difficult.
Choosing Extell Israel means taking control of your property 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 their outcomes are unpredictable. Generally, the court does not intervene in contracts between private parties and is unlikely to do so here. Crucially, the current case does not resolve the financial cost of extending the lease, which would ultimately remain the responsibility of the residents. In contrast, reaching an agreement with Extell Israel offers a direct path to immediate certainty and security.
The legislation in question was introduced in 2014 and has stalled for over a decade without progress. Lawmakers and legal experts recognize that this is not a realistic or viable solution. Fundamentally, retroactive interference in private property contracts is a direct challenge to established property rights. Regardless, any attempt to move forward would face years of legal challenges and petitions, leaving the issue unresolved. Ultimately, waiting only prolongs uncertainty.
Our goal is to turn uncertainty into a tangible opportunity. Under this plan, tenants will receive a new, modern, and safe apartment in a high-quality building. The new apartment will include a safe room (Mamad) and private parking. Most importantly, through this urban renewal process, tenants will gain guaranteed, permanent registered ownership of their apartments, resolving the leasehold issue once and for all.
This is the core objective of our solution. Extell Israel’s goal is to convert expiring leases into full, registered ownership (Tabu) for a nominal fee. For tenants who prefer to extend their leasehold terms rather than convert to full ownership, a further reduced nominal fee will apply.
[A few ways to share the offer details: Put a ghost button inside the accordion below the text, make it open a standard PDF in a new tab, and label it 'View the Complete Offer Details'; a Dedicated Web Page built seamlessly into the site for the best mobile experience; an interactive Digital Lookbook that mimics a high-end glossy magazine; or a gated Concierge Approach that automatically emails the prospectus in exchange for their contact information.]
The current uncertainty surrounding the expiring lease negatively impacts property values by steadily eroding prices. Securing full, registered ownership eliminates this risk. Permanent title drives immediate property appreciation, delivering substantial financial benefits to homeowners.
KKL has stated in court filings that it has no legal obligation toward tenants once the original lease expires. Any current involvement by KKL is driven by public interest rather than a legal mandate. Because they are not bound to protect your rights, reaching a direct agreement with Extell Israel remains the only practical path to securing permanent ownership and the long-term 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
Currently also serves as Senior Vice President of Development at Extell’s headquarters in New York.
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, and Senior Assistant to the State Attorney.
Gary Barnett is the Chairman and Founder of Extell Development Company. Mr. Barnett founded the company in 1989, after identifying the potential of the real estate market in the United States. He began acquiring real estate assets across the country, with a focus on New York City, and established Extell Development Company. Today, Mr. Barnett and his team lead one of the most prominent and recognized development companies in the United States. From the very beginning, Mr. Barnett has been committed to delivering quality, value, and beauty. This passion was born from his international work in the diamond industry. A native New Yorker, Gary earned a B.A. in Mathematics from Queens College and an M.A. in Economics from Hunter College.
Slide – Our Solutions for Making the Dream a Reality Extell offers residents a comprehensive solution, providing them with the opportunity to receive a new apartment with full ownership in a modern building.
Former Chief Government Appraiser, Jerusalem District Director and Authority Appraiser at the Israel Land Authority, Municipal Appraiser for the Jerusalem Municipality, and independent appraiser.
Former City Engineer of Modi’in-Maccabim-Reut and Director of the Licensing and Supervision Department at the Jerusalem Municipality.
