As abroad: residential and commercial areas will soon be established in the Israel Railways – Real Estate complexes

The Israel Land Council has approved the signing of the new agreement between the Israel Land Authority and the Israel Railways Company, regarding the railway rights in the territories managed by the Authority. According to the agreement, it will be possible to establish residential, employment and commercial areas in the Israel Railways complexes. Similar to the existing model abroad. The agreement established guiding principles on the basis of which the existing agreements with the railway will be updated, and will provide a solution for removing the barriers and marketing the railway complexes, after for years the railway subsidiary failed to market its complexes for tradable purposes.

These complexes will be marketed in a public tender in accordance with the rules used in RMI, using the maximum price method, so that the railway can exercise and utilize all building rights, including complexes in a way that will produce the best and most efficient use for planning and economic benefit to the public.

Chairman of the Israel Land Council Minister of Construction and Housing Yaakov Litzman: “The agreement approved by the Israel Lands Administration today is a real line for Israel Railways and its users, in cooperation between the ministries that led to the training of new land in central residential and commercial locations. The new railway complexes will benefit the economy and add residential and commercial units. I am blessed and I welcome this achievement. ”

Director of the Israel Land Authority, Yaakov Quint: “There is a real line here in the field of land use efficiency. Since 2003, there has been a dialogue and negotiations between the state and Israel Railways regarding the marketing of railway complexes. I am happy that a model has been launched today that makes it possible to take advantage of the economic benefits inherent in these complexes. ”