The global trend of urban renewal is gaining momentum in the Israeli market, with an emphasis on creating economic and community value. Blue Square Real Estate leads the market with a diverse asset portfolio and is at the forefront of urban development, with a business model that combines financial returns with sustainable planning.
The urban space in Israel has undergone a significant transformation in recent years, thanks to renewal processes that are reshaping the environment. With high-rise construction, access to public transportation, and mixed-use development, the city is becoming an innovative, enabling, and sustainable living space. These processes also promote infrastructure upgrades, connect distant neighborhoods to the city center, and in many cases help reduce dependence on private cars and decrease air pollution.
Urban Community: Returning to City Centers
The implementation of urban renewal principles in Israel is primarily aimed at strengthening and protecting against earthquakes, along with the establishment of standard safe spaces. However, the core of the work focuses on a broader social concept of living in an urban fabric. While in the past young couples aspired to move to a private home with a garden, today many prefer to live in the city and enjoy the benefits of high accessibility to work, cultural, entertainment, and leisure hubs. In recent decades, we’ve seen this trend strengthen even among those who want to enjoy the benefits of urban living, after their children have grown up and left home.
This approach is increasingly reflected in urban planning in Israel. In Tel Aviv-Jaffa, for example, the urban master plan TA/5000 promotes evacuation and reconstruction plans in neighborhoods like Yad Eliyahu and Neve Sharett. In Jerusalem, projects such as Sha'ar Ha'Ir and plans for the renewal of the city center combine residential, commercial, and employment spaces with an emphasis on accessibility to public transportation. In Haifa, urban renewal plans in the older neighborhoods highlight strengthening the connection between the lower city and Carmel, while creating active urban spaces.
Blue Square Real Estate: Leading the Urban Revolution
One of the leading companies in the field is Blue Square Real Estate, with extensive experience and proven financial resilience. As a leader in income-producing real estate, the company also promotes an active residential division, which includes a portfolio of over 20 urban renewal projects and real estate assets valued at 8.3 billion NIS. "Urban renewal is an example of the way we will live in the future," explains Uri Altschuler, CEO of Blue Square Real Estate.
"Ideally, a person will wake up in the morning, take the nearby light rail to work, and on the way back, sit at the neighborhood café or exercise in the shared space of the building." According to him, even for parents, the new city offers efficient solutions, with high-quality facilities close to home, green public gardens, and a full life package. "Everything within walking distance and in an organic community. The complete opposite of what we used to think about alienated and lonely lives in the big city," concludes Altschuler.
Proven Business Model: Performance Data and Financial Stability
"Ideally, a person will wake up in the morning, take the nearby light rail to work, and on the way back, sit at the neighborhood café or exercise in the shared space of the building." According to him, even for parents, the new city offers efficient solutions, with high-quality facilities close to home, green public gardens, and a full life package. "Everything within walking distance and in an organic community. The complete opposite of what we used to think about alienated and lonely lives in the big city," concludes Altschuler.
With an expected 7,000 new residential units to be established in the near future, Blue Square Real Estate positions itself as one of the dominant players in the urban renewal segment, proving that the combination of financial resilience, professionalism, and a community-oriented vision is the key to success in the field. The company continues to identify strategic opportunities in city centers and offers comprehensive solutions that integrate residential, commercial, and employment spaces in a way that serves the needs of the community and the urban fabric.
