The Israel government and the Israel Defense Forces are releasing prime real estate in central Israel for new housing.
The Director General of the Prime Minister’s Office, Harel Locker, announced on June 2, 2014, that all the major Israeli army bases in the center of the country will be vacated and the land put up for sale.
The project is designed to release capital for the defense budget and also to revitalize Israel’s peripheral areas by relocating army bases to the north and south of Israel. This major infrastructure project will also generate economic activity in the less-crowded areas of the country, while enabling 100,000 new housing units to be built in the metropolitan areas where there is high demand for homes.
At Creative Estates Israel we are excited to see new building projects on the horizon in central Tel Aviv and other prime locations which have belonged to the IDF until now. We also expect that the redistribution of army manpower will feed the demand for rental properties outside the main centers of population, helping to rebalance the property market.
If you are interested in finding out more about the latest real estate investment opportunities in Israel, give us a call or send us an email today.