Government ministries and the religious city of Elad signed an agreement to build over 5,400 apartments by 2020 with an approved budget of $900 million. Another 1,500 housing units may be added, contingent on authorization from the local planning committee.
If marketing is satisfactory, a second stage of building may add another 6,500 apartments to the city. This would triple the city’s apartments within a few years.
Established in the 1990s, Elad has 47,000 residents in 7,500 apartments.
The government has also earmarked $30 million for the approved construction of 3,500 approved apartments in Modi’in Illit.
{Matzav.com Israel}
