Buy an apartment now, pay only for another 12 years: Gindi's exceptional deal

Gindi Holdings launches an exceptional deal: deferring payment of 900,000 shekels for a decade from receiving the keys, with no interest or indexation. The deal applies to about 300 apartments in four projects, and banks Leumi and Mizrahi Tefahot will provide the loans. Gindi will pay the interest, at an estimated cost of about 135 million shekels if all apartments are sold.

Gindi Holdings has launched an exceptional deal to defer payment of 900,000 shekels from the price of a new apartment for a decade from receiving the keys, with no interest or indexation. The deal applies to about 300 apartments in four projects: Galil Yam in Herzliya, Neve Eylon in Or Yehuda, Ramat Ef'al, and Kfar Azar in Ramat Gan. Half of the apartments are in the Galil Yam project, where the average price is 4–5 million shekels per apartment. The loans will be provided by banks Leumi and Mizrahi Tefahot, and Gindi will pay the interest, at an estimated cost of about 450,000 shekels per apartment. The deal is intended to overcome a slowdown in sales and buyers' difficulty in meeting mortgage payments. The article notes that similar deals have been offered in the past by other companies and warns of risks such as a drop in the apartment's price or a reduction in the buyer's income.