Beit Yerushalmi Buys Additional Land in Beit HaKerem for NIS 130 Million
By Jacki Wiluzanski · · Updated · 1 min read
Beit Yerushalmi bought additional land in the Beit HaKerem neighborhood for NIS 130 million, with estimated project revenue of NIS 700 million
Because vacant land is hard to find in sought-after areas in Israel, and in Jerusalem in particular, the real estate group "Beit Yerushalmi" completed a significant transaction this week in Jerusalem's upscale Beit HaKerem neighborhood. "Beit Yerushalmi" completed a transaction to buy approximately two dunams in the neighborhood.
The planned project, at the intersection of Herzl and Chazon Zion streets, will include a tall tower alongside a textured building facing Herzl Boulevard and the interior of the neighborhood.
The company intends to include in the project free-market residential units, units for long-term rental, student dormitories, commercial areas and workspaces. In addition, public areas for the benefit of all the neighborhood's residents will be planned in the project. The planned mix of uses is unusual in its many nuances. The lot lies on the axis of Jerusalem's Red Line light rail, near the entrance and exit of the city and major transportation routes such as Route 50 (Begin) and the new Route 16. The project's architect is Carlos Peros of Peros Architects.
