Sea Park Rishon Lezion 2026 — 10,000 Apartments on the Beach: All the Details | Merkaz HaNekhasim

Sea Park Rishon Lezion, also known as "Matbach 24", is one of the most exciting real estate projects in Israel in the coming years: 300 dunams right on the coastline of Rishon Lezion, which will be used for the construction of 10,000 housing units and public spaces.

What is Matbach 24?

"Matbach" is the name of areas that were previously military firing zones. Matbach 24 on the Rishon Lezion beach was released for civilian development after years of planning. Its location on the coastline — right on the sea — makes it rare in Israel.

Who is building there and what did they pay?

The tender concluded with a payment of ₪1.4 billion — a record price for land. The winning developers are:

• Gindi Israel — one of the largest real estate groups in Israel
• Azorim — an established and well-known construction group
• Prior — a developer with experience in luxury projects
• Davidson — an addition to the large collection

A payment of ₪1.4 billion for the land indicates that the developers expect apartments to sell for ₪3,500,000 and above for 4 rooms — meaning a significant premium over the Rishon Lezion average.

What is included in the project?

• ~10,000 housing units — a mix of apartments, penthouses, and small units
• Hotels
• Commercial spaces and restaurants on the coastline
• Public park by the sea
• Transportation infrastructure: access roads, parking lots

Timeline — When do they start and when do they finish?

According to available information in 2026:

• Detailed planning: in 2025-2026
• Building permits: 2026-2027
• Construction start: 2027-2028 (for the first projects)
• First occupancy: 2030-2032
• Full completion: 2035-2040

Like any large Israeli project — timelines may extend.

What does this mean for apartment prices in the area?

When there is a large luxury project by the sea, it affects prices in the vicinity:

• Neighborhoods adjacent to the beach in Rishon Lezion have already recorded a 5-8% increase since the project announcement
• Expectations from sea lands in Rishon Lezion have risen — even for "old" near Sea Park
• When occupancy begins, the premium will increase further

Expected apartment prices in Sea Park

There are no official prices yet (sales have not yet opened in 2026). But based on land prices and construction costs:

• 2 rooms (small unit): ₪2,500,000–3,500,000
• 3 rooms: ₪3,200,000–4,500,000
• 4 rooms: ₪4,000,000–5,500,000
• Penthouse / luxury unit on the coastline: ₪7,000,000+

This represents a premium of 50-80% over regular Rishon Lezion prices — unique to the project by the sea.

To view apartments for sale in Rishon Lezion, our agents will assist you. ☎ 054-249-8166