Israel land Council has approved a number of key changes in the procedure of urban renewal, including projects TAMA-38 and «pinoy-binui» («eviction — construction»), the press service of the Ministry of Finance.
In particular, to real estate developers took on less profitable projects, they will be provided additional land in the same city with 80% discount, and noted that the facilities to be built on these sites, do not necessarily have to be residential. We are talking about the «Karka Muslima» when contractors allocate land for development to offset the unfavorable renovation and construction work.
It was also decided to significantly increase the area of the additional parcels «Karka Muslima» to the implementation of major projects have economic feasibility for developers.
The land Council has established rules for the selection of projects of urban renewal, which will be allocated additional sites «Karka Muslima» and established the amount of land that will be allocated for these purposes in each local Council.
The housing crisis of recent years and the acute shortage of building land, especially in old urban centres and areas of high demand, has increased the need for the promotion of projects of urban renewal which are used as efficiently as possible, while saving money on infrastructure and preserved open space.
As noted in the press service of the Ministry of Finance, the current decision of the Land Council is called upon to promote initiatives for urban upgrading across the country. As expected, due to more projects will be implemented in a relatively short time.
— Sale, purchase and rent housing in Israel