Excelion is demanding an additional €5,000 above the apartment price stated in the sales agreement, despite being a year and a half late in delivering the units.

We cannot disclose most of the details here, but even from what can be shared, a pattern of amateurish, if not outright negligent, conduct emerges, to say the least.

The original projected delivery date of Summer 2022. The latest photos show a nearly empty pool, missing balcony glass, and unfinished landscaping and exterior work.

"We bought an apartment. We have paid the full amount last December but we are still waiting for the keys. Lots of promises about dates then silence."

Excelion sold 33 apartments in the project, promising to deliver them by September 2022, but failed to do so because the renovation quality and furniture quality were found to be very poor.

Excelion started sales of apartments at the property for about 1400 €/sq.m, while the market price is about 850 €/sq.m. But the company promised to the buyers the fixed rental payments providing a 7% yield on their investment.

Excelion is trying to sell apartments at the property at a price of about €300,000, while the market valuation of these apartments according to idealista.com is €201,124.

In 2017, warning notes were filed in favor of approx. 50 Israeli buyers who were in the process of purchasing apartments. However, the delivery of the apartments did not take place. In the meantime, Excelion is attempting to sell the

In 2016, Motti Gruzman bought Höllern hotel via his company TCI, mainly financed by a mortgage from Volksbank Salzburg. In February-March 2017, he raised additional funds in Israel from lenders and apartments buyers, promising apartments delivery by the end of