Abou Family Residence, led by developer Tzahi Abou, has acquired 40 apartments in Tel Aviv's Da Vinci Towers for NIS 61.5 million. Half of these units, located in the north tower, were damaged by an Iranian missile in June and require significant renovation before they can be rented. The Israel Land Authority reduced the minimum price for the damaged apartments by about 60% to reflect their condition, making the deal more attractive to developers. Abou Family Residence now faces the challenge of restoring the damaged units, with renovation costs estimated at NIS 10-15 million, but sees potential for strong returns in Tel Aviv's rental market.

The acquisition highlights both the risks and opportunities in Tel Aviv's real estate sector, as developers weigh the costs of restoration against future rental income. The company plans to invest further in similar projects, citing favorable market conditions for finding value in distressed properties.