NPO 38 Transactions and Transactions of Vacation and Reconstruction

Urban Redevelopment, NPO 38, which is the national outline plan in Israel for the strengthening of building against earthquakes, and vacation and reconstruction transactions (transactions in which old buildings are vacated from their tenants and then demolished, and afterwards new buildings with more apartments are built instead) are the optimal way of upgrading one’s standard of living without using your savings in the process or taking loans.

If you desire to live in a new apartment in a building that has a new environmental look and it is built at a high standard while meeting all the new regulations that exist, then the ideal solution for you is to contact our office.

The full cost of the project will be in “a give and take” style, which means that our company will perform the project without any cost on the side of tenants, and throughout the course of the project the tenants will be fully secured and have the appropriate performance guarantees, and in exchange we will receive the rights that the building is entitled to them according to the municipal master plan and according to NPO 38. These rights that the building is entitled to them will serve for the construction of additional apartments in the reconstructed building, which will finance the cost of the project.

The Essence of NPO 38 Transactions and of Vacation and Reconstruction Transactions

The State of Israel is located in an area that is very seismologically active, and therefore there is a high risk for earthquakes here.

One of the ways to deal with buildings that were built before the Standard for the Design Provisions for Earthquake Resistance of Structures (Israeli Standard no. 413) was enacted is through the “National Outline Plan for the Strengthening of Existing Structures against Earthquakes”.

A Few Basic Facts regarding the National Outline Plan 38:

 NPO 38 encourages the strengthening of structures that a building permit was issued for them before 1980 in order to increase their durability to earthquakes. After 1980, the structures were built in accordance with Israeli Standard no. 413 that deals with the resistance of structures to earthquakes.

 NPO 38 includes means that are meant to encourage the strengthening of structures through the provision of additional construction rights, which allow the apartment owners to add new residential units to the building and to expand the existing apartments, through tax reductions, and through the shortening of statutory procedures. At least part of the profits from the sale of the new apartments will go to the strengthening of the building. NPO 38 mostly applies to structures that have at least three stories.

The plan was meant for dealing with the main problem that apartment owners in old condominiums face, which is very large expenses that are required of them according to the regulations in order to strengthen and protect their buildings in the case of an earthquake. This plan was meant to strengthen all the structures that were planned before 1980 against earthquakes.ed before 1980 against earthquakes.

The Company’s Activity with regard to NOP 38 Projects

Once as aforesaid, the urban redevelopment was set in the law in order to encourage the strengthening of old buildings against earthquakes, we have organized a team of experts in this field, which is composed of architects, engineers, lawyers, appraisers and economists.

The purpose of this team of experts is to provide consultation to tenants in matters that pertain to NOP 38, to be entrusted as much as possible with the advancement of projects of NOP 38 in which the outcome of any strengthening that a building will undergo is that its tenants will receive a new and luxurious building and a new or upgraded apartment. A company that will participate in such a project will be allowed in return to exercise the rights to the new apartments, and it will be able to sell these new apartments to purchasers.

Our office provides a package of services in projects of vacation and reconstruction, NOP 38 and urban redevelopment.

We initiate such projects, we advance licensing and engineering projects in which we can significantly shorten the timetables while acting in full transparency, with credibility and professionalism, and we provide a service at the highest level. In addition, we consult and provide services on an ongoing basis to entrepreneurs, construction companies, architects, law firms, real estate funds, and to homeowner associations starting from the stage of the initial examination and until the completion of the project.

If you want to schedule a professional consultation meeting,
then call +972-52-3339566 or leave your details here below: