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Home Special Real Estate Magazine

Rishon Lezion embarks on massive urban rejuvenation project

No less than 7,200 apartments will be built as part of an urban renewal project in Ramat Eliyahu * The modern buildings will replace 2,600 apartments in old tenement buildings.

by  Ofer Petersburg/Special Real Estate Magazine
Published on  02-10-2022 13:26
Last modified: 02-10-2022 13:26
Rishon Lezion embarks on massive urban rejuvenation projectRishon Lezion Municipality

The area of the construction project | Courtesy: Rishon Lezion Municipality

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The city of Rishon Lezion in embarking on one of its biggest urban rejuvenation projects in the Ramat Eliyahu neighborhood.

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This week, a cornerstone-laying ceremony was held for the first buildings in the Nuriyot neighborhood, intended for the residents from Ramat Eliyahu. The ceremony was attended by Rishon Lezion Mayor Raz Kinstlich, Housing and Construction Minister Ze'ev Elkin, and representatives of the project's developer, Shikun & Binui real estate company.

The project involves the construction of 7,200 housing units that will replace 2,600 tenement units. In the first stage, four buildings will be constructed in the neighborhood, with 83 units designated for Ramat Eliyahu evacuees, who will enjoy improved accommodation.

A few months ago, the Rishon Lezion municipality demolished the hazardous building on 30 Anielewicz St. and, in an unprecedented step, granted evacuees rental payments of NIS 5,000 per family per month for a period of six months.

"We're seeing the first results now, it's exciting," said Rishon Lezion's mayor, Raz Kinstlich.

Minister of Housing and Construction Ze'ev Elkin praised the initiative: "This project increases the apartment supply for young couples and significantly upgrades the quality of life in the older neighborhoods."

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Tamir Cohen, Chairman and CEO of Shikun & Binui, said at the ceremony that "Nuriyot is a unique project in a long series of projects led by Shikun & Binui, enabling a process of urban renewal and accelerated improvement in the quality of life of thousands of residents living in the area. Many resources have been and will be invested in the neighborhood, and it will become an excellent, high-quality quarter that will provide a true home for many families. They will gain a unique housing experience that includes the most up-to-date housing envelope alongside mixed-use facilities that fulfill the needs of thousands of families."

This article might include sponsored and commercial content/marketing information. Israel Hayom is not responsible for its nature or its credibility. The publication of such content or information shall not be considered a recommendation and/or an offer by Israel Hayom to purchase and/or use the services or products mentioned in this article.

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