The more expensive apartment is 510 square meters with a 60 square meter balcony and an open view of the Old City walls. The second apartment is 386 square meters with a 24 square meter balcony, situated below the first — and without the Old City view, which partly explains the difference in price. Both were sold at shell stage, meaning the buyer will design and build the interior himself.

Both apartments are part of the David’s Village project, developed by YH Dimri and Bomel Israel.

About David’s Village

David’s Village sits within the larger Mamilla project in central Jerusalem, developed primarily by Alrov. The project spans 120 dunams — about 30 acres — and includes the David Citadel Hotel, the Mamilla Mall, and low-rise residential buildings.

Nineteen years ago, Africa Israel and Alrov sold six dunams of land within the project to NAM, controlled by the Shirazi family, and Bomel Israel, owned by Bobby Rechnitz. In 2012, YH Dimri bought NAM’s share for NIS 77.5 million and began developing the project.

The original urban building plan permitted 78 housing units, but because apartments ended up larger than the originally planned 160 square meters, the number of units fell to 60. Construction was completed, but the companies held off selling part of the building because of the wars. Last month, two sales were made.

Prices and Buyers

Prices across the project range from NIS 54,000 per square meter on the lower floors to NIS 120,000 per square meter on the upper floors. The main factor driving price is the floor level. Lower floors have no view, while upper floors overlook the Old City walls — a feature that buyers from religious and ultra-Orthodox communities are willing to pay a significant premium for. Most buyers in the project are wealthy overseas residents.

Mirovsky, A. (2026, April 15). Apartment overlooking Jerusalem’s Old City sells for NIS 66.3m. Globes. https://en.globes.co.il/en/article-apartment-overlooking-jerusalems-old-city-sells-for-nis-663m-1001540175