Resort Condominiums – Special Hotel Accommodation

Background

Over the years, real-estate entrepreneurs have erected a significant number of residential projects, built in various areas throughout the country, including along the seashore, on lands designated for tourism and recreation purposes. This situation was enabled, among others, by erecting projects which were marketed and called ""apartment hotels" or "Resort Condominiums". In fact, such projects matched the provisions of the zoning plan applying to the land, which provided that it is possible to erect hotels on the land and construct Resort Condominiums which could be sold to individuals, but in fact such apartments served as residential apartments for all matters and purposes.