The tender for the three lots at the city’s western entrance has been won by a consortium of JTLV Fund, BSR, and Yehuda Rahamim Building Co.
The Israel Land Administration (ILA) tender for three lots in the Jerusalem Gateway project, the planned business, commercial and residential district at the western entrance to the city, has been won by a consortium of JTLV Fund, 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 the Meytarim Bridge.
The consortium’s winning bid was NIS 120 million, above the minimum price of for the bid of NIS 113.5 million. The consortium has also committed to invest NIS 53.2 million for development costs.
The Jerusalem Gateway project will include offices, stores, hotels, apartments and cultural, leisure and entertainment facilities. One of Israel’s most important national projects, the plan calls for the creation of a bustling urban environment, stressing quality of life, with an emphasis on public transport lanes, pedestrian areas and bicycle paths.
The three lots will include construction of two 40-floor towers and one eight-floor tower.
Published by Globes, Israel business news – en.globes.co.il – on November 23, 2022.
Jerusalem gateway project credit: Eden, Municipal Economic Development Co.
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