JTLV Fund, BSR and Yehuda Rahamim Building Co consortium won the tender for three lots at the western entrance of the city.
The tender for three lots in the Israel Land Authority’s (ILA) Jerusalem Gateway project, a planned business, commercial and residential neighborhood at the city’s western entrance, was won by a consortium of JTLV Foundation, BSR and Yehuda Rahamim Building Co. The three lots cover 10.3 dunams (2,575 acres) opposite the Binyanei Ha’Uma International Convention Center near Meytarim Bridge.
The consortium’s winning bid was NIS 120 million, with a minimum bid of NIS 113.5 million. The consortium also committed to invest NIS 53.2 million for development costs.
The Jerusalem Gateway project will include offices, shops, hotels, apartments and cultural, leisure and entertainment facilities. One of Israel’s most important national projects, the plan calls for the creation of a vibrant urban environment that emphasizes quality of life, with an emphasis on public transportation lanes, pedestrian areas, and bicycle paths.
The three lots include the construction of two 40-story towers and one eight-story tower.
Globes, Israel business news – en.globes.co.il – published on November 23, 2022.
Jerusalem Gateway project credit: Eden, Municipal Economic Development Co.