TAMA38 is a national plan for reinforcing structures against earthquakes. By shortening bureaucratic procedures and granting increased building rights, the Israeli government has encouraged apartment owners across Israel to invest in their building through renovations, offering in exchange additional building rights and construction and taxation benefits.
These options can be attractive, particularly when many bureaucratic procedures are waived.
In many cases, TAMA38 initiatives will come from private contractors that will offer to “fix” the building, by strengthening, reinforcing and inserting beams. In return, they will add apartments or housing units which they will sell, and which provide the return on their investment.
Professional guidance is a critical condition for successfully taking advantage of the benefits that TAMA38 has to offer. Whether you are a developer, or you are dealing with one, we welcome you to contact a member of our team to learn more about how you can take advantage of TAMA38.