$50 Million Private Investment In Ariel.
1 June 1999
Israel Business Today
Volume 13; Issue 6
Ariel is Israel's largest city located far across the green line, (the border before the Six-Day War in 1967) arid has more than 16,000 residents. Some residents, as a result of the recent election in Israel and the change in government, are a bit apprehensive about the city's future. They received a welcome sign of relief when a private contracting company (Danya Cebus) announced that the company is negotiating to build 350 two family cottages in the city. The company will invest $50 million in the project and plans on selling each cottage for $130,000. An investment of this size will have a major impact on the local economy of the city; but far more important is the political statement that a project of this kind makes. If a private company is willing to make an investment of this size and believes it can find buyers for the cottages - even in a slow economy - it shows that the political and economic future of the city is assured.
Places like these need more demographic and economic investment to help them know they are on the map to stay.
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