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«Amidar» acquire 1,000 homes in social housing

The socio-economic Cabinet approved on Monday, July 17, the proposal of Finance Minister Moshe Kahlon about the acquisition of 1,000 housing units to replenish the stock of social housing and provision of waiting list.

For these purposes the company «Amidar» will attract banks and other financial institutions billion shekels through bonds and repayment of the loan will be included in the state budget for ten years. «The current government is not shirking responsibility before the pending social housing,» — said Moshe Kahlon. He also recalled that «Amidar» — a company wholly owned by the state, and because of her employment and the amount of work it is ideally suited for this important task.

The press service of the Ministry of Finance explained that the scheme of acquisition of apartments waiting for social housing, following the agreement on the funding of 5% of apartments, under construction on public land in the framework of the project «the newcomer» («Policy Le-Mistaken»).

Since the beginning of 2015 for the purchase of housing government allocated a billion shekels, another 350 million has been allocated for the repair and maintenance of social housing. In addition, under the agreement between the Ministry of Finance, Ministry of construction and the Jewish Agency «Sohnut» will be built 2.650 malometrazhnyh apartments waiting for social housing, the project cost is 530 million shekels.

The company «Amidar» during the year, initiated the process of raising funds, which will begin in the coming weeks after all required approvals from the government. «Amidar» — the largest company in Israel dealing with the distribution and exploitation of social housing, it has about 40,000 apartments. It also lists the beneficiaries of the help on the removal of housing from the Ministry of construction and other projects for hundreds of millions of shekels a year. Thus, taking into account the volume and range of activities of «Amidar», this company will be able to ensure that all the necessary conditions for acquisition of apartments in the residential sector, such as transparency, increased reporting requirements, enhanced controls and the like.

«Amidar» acquire 1,000 homes in social housing 17.07.2017

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