The first 40 cabins are expected to be completed by the first quarter of 2026, with the remaining cabins finished by the end of 2027.
Kishrey Teufa emphasized that the resort will be located in the heart of nature, offering breathtaking views of the arctic landscape, including snow-covered forests, and is situated near the region's main ski resort and golf course. “Each cabin will be designed to offer the best panoramic experience, allowing guests to enjoy the Northern Lights and the unique snowy forests of the Arctic Circle,” the company said in its announcement.
To facilitate the project, Kishrey Teufa has partnered with Arctic Panorama, a private company owned by SIBI & Marketing OY, which will provide 75% of the capital. The resort will be managed in partnership with Simon Biton, a local tourism entrepreneur with extensive experience in the field.
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Kishrey Teufa also stated that the company holds leasing rights to two plots of land covering approximately 15 dunams (around 3.75 acres), with building rights for 6,000 square meters over 30 years and an option to extend the lease for an additional 20 years. The company also has the option to purchase the land after construction is completed, pending approval from the local municipality and an appraisal of the property's value at the time of the option’s execution.
"Lapland has become an increasingly popular destination for Israelis seeking the Northern Lights experience," the company said. "Kishrey Teufa has been operating direct flights to Rovaniemi from January to March since 2016."
Amit Zeldman, CFO of Kishrey Teufa Group, stated, "The new resort and spa represent a significant and luxurious addition to Kishrey Teufa's international operations. With the completion of this deal, we will include the Lapland resort and spa, along with our recently launched luxury villa project on Paros Island in Greece, as well as the group’s tourism companies. We plan to continue investing in tourism-related real estate assets that complement our business activities."