• Demolish & Build (“Pinui-Binui”): Large-scale urban renewal covering several apartment buildings in the same area. Residents move to alternative accommodation for the duration of the construction process, fully financed by the developers.

The old buildings are scheduled for demolition and then replaced by new buildings that include large modern apartments with outstanding technical specifications, such as an elevator, safe room, storage

rooms, private parking, and more. The developer of each project is awarded additional apartments to be sold.

At least 80% of apartment owners (66% for TAMA 38/1) must agree to the developer’s proposal before the urban renewal process goes ahead. Then, the owners sign a contract that includes all the r

elevant details: moving to alternative apartments during construction, the specifications of the new apartments, construction plans, and various other terms and conditions. Furthermore, the developer

ensures full guarantees from a recognized financial institution.