Construction boom hits Beersheba - Israel Business, Ynetnews

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Construction boom hits Beersheba

Planned construction in southern city includes elements of urban, environmental design. Development intended to raise property value by 30%

Ilana Curiel
Published: 05.24.12, 07:48 / Israel Business

Like many other cities in Israel, Beersheba has recently begun experiencing a construction boom, which will enable the southern city to attract families and young couples in the near future.


The planned construction includes elements of urban design such as water fountains and bridges, as well as environmental development which will consist of playgrounds and green parks. 


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"The city has not seen this kind of construction boom in a very long time," said Beersheba Mayor, Rubik Danilovich.


The planned move of IDF bases to the Negev and the expected construction of the IDF training base compound in the area, are both set to raise the property value in Beersheba in the near future – a move which will benefit those looking to buy apartments for investment purposes.


According to the Defense Ministry, real estate in the city is predicted to increase by 30%.


"Lately, we have seen an increase in buyers who are seeking to purchase houses for investment purposes," said David Green, a local real estate agent. "Over 50% of the property sold in Beersheba is purchased by investors from outside the city," he said.



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