Itongadol.- Final approval of the project, estimated to cost the Treasury approximately NIS 1.2 billion, is expected in the coming days or weeks.
After funding arrangements were recently agreed upon by the Jerusalem Municipality and Finance Ministry, plans to construct one of the nation’s largest business centers at the western entrance of the capital are expected to be approved.
Final approval of the project, estimated to cost the Treasury approximately NIS 1.2 billion, is expected in the coming days or weeks, the Jerusalem Municipality said Wednesday.
According to the municipality, the plan includes the development of nearly 750,000 sq.m. of offices and commercial businesses, and will feature eight office towers to accommodate over 40,000 expected jobs in the city.
In the next few months, Moriah, a development company under contract with the municipality, is to begin construction of the 21.1-hectare (5 acres) site.
Jerusalem Mayor Nir Barkat, who spearheaded the project, said in recent years the capital has become increasingly attractive to local and international investors, which he hopes will help transform the city’s presently anemic economy.