web analytics
September 20, 2014 / 25 Elul, 5774
At a Glance
News & Views
Sponsored Post
Apartment 758x530 Africa-Israel at the Israel Real Estate Exhibition in New York

Africa Israel Residences, part of the Africa Israel Investments Group led by international businessman Lev Leviev, will present 7 leading projects on the The Israel Real Estate Exhibition in New York on Sep 14-15, 2014.



Cost of Lapid’s Housing Plan Estimated to Be Bigger than His Ego

Finance Minister Yair Lapid, chairman of the Yesh Atid party, has come up with a fantastic plan to solve Israel’s apartment shortage but it has one large problem –  a cost of approximately $14 billion, according to an estimate by Globes business newspaper. That may be par for the course for the former journalist who didn’t even finish high school, let alone specialize in math.

Approval of the plan has not taken into consideration how the government will pay for it. A large cost will be compensating owners of farmland where some of this planned 150,000 apartments are to be built.

“Contractors regret that no one consulted with them in drawing up the plan, assessors call it ‘hallucinatory,’” Globes reported. The land will cost the government approximately $12 billion but will have to be sold for far less  in order to make it a feasible investment for contractors.

The plan also faces heavy opposition from environment groups and the environment ministry.

Even the estimate of $14 billion is low, according to Israel’s Real Estate Appraisers Association chairman Ehud Danus, who said the final cost could be double after taking into considering necessary schools and parks.

The Ministry of Finance responded to the report with a weird admission of that “we’re talking about the preliminary stage, and as we accumulate the land for projects, we’ll budget the activity later on.”

About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Cost of Lapid’s Housing Plan Estimated to Be Bigger than His Ego”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Aircraft carrier USS Carl Vinson in the Persian Gulf, March 9, 2012, deployed with Carrier Air Wing 17 to the U.S. 5th Fleet area of responsibility.  (illustrative only)
First Time: Iran, China Begin Joint Naval Drills
Latest News Stories
Turkish Prime Minister Ahmet Davutoglu.

Turkey has retrieved 49 citizens who were held hostage by the ISIS terror organization in Iraq, allegedly without paying ransom.

Aircraft carrier USS Carl Vinson in the Persian Gulf, March 9, 2012, deployed with Carrier Air Wing 17 to the U.S. 5th Fleet area of responsibility.  (illustrative only)

For the first time ever, Iran and China have begun joint naval drills focusing on “relief and rescue operations” in the Persian Gulf.

US Defense corporation Lockheed Martin has registered an Israeli subsidiary after opening an office in Be’er Sheva.

PM Binyamin Netanyahu and FM Yair Lapid have reportedly come to an agreement over the 2015 state budget for Israel.

A delegation of 12 Jordanian parliamentarians have cancelled a planned visit to Gaza on security grounds.

ConEd has created a series of multilingual gas safety videos for New Yorkers.

Even secular Jews are slamming Yair Lapid for a calling a press conference on Shabbat about absolutely nothing important.

An Israeli mini-drone crashed Saturday morning near Marjayoun in southern Lebanon near the border with Israel.

This Monday, starting at 4:30 p.m. ET, a rally is taking place on the steps of Lincoln Center. The rally is intended to give a voice and add faces to the ongoing furor over the Metropolitan Opera staging a wildly anti-Semitic opera, “The Death of Klinghoffer.” The opera was first staged in 1991, and is […]

The Senate has approved the ‘ISIS Bill’ to train and arm 5,000 Syrian rebels against ISIS, but the American military is hoping for more.

The two Iranians had changed the photos in the stolen passports, replacing them with their own.

The victims found the bomb, began to tinker with it, and it exploded.

French fighter planes hit ISIS targets in Iraq on Friday.

A convoy of bulldozers supported by tanks reportedly entered Gaza on Friday.

Approximately 1000 Kurds, mostly women and children, are running for their lives to the Turkish border to escape ISIS (Daash).

The general did not say which variant of the missile the country bought, bu did mention the DF 21 is capable of carrying a nuclear warhead.

More Articles from Jewish Press News Briefs

US Defense corporation Lockheed Martin has registered an Israeli subsidiary after opening an office in Be’er Sheva.

ConEd has created a series of multilingual gas safety videos for New Yorkers.

Even secular Jews are slamming Yair Lapid for a calling a press conference on Shabbat about absolutely nothing important.

The two Iranians had changed the photos in the stolen passports, replacing them with their own.

The victims found the bomb, began to tinker with it, and it exploded.

French fighter planes hit ISIS targets in Iraq on Friday.

A convoy of bulldozers supported by tanks reportedly entered Gaza on Friday.

Approximately 1000 Kurds, mostly women and children, are running for their lives to the Turkish border to escape ISIS (Daash).

Printed from: http://www.jewishpress.com/news/breaking-news/cost-of-lapids-housing-plan-estimated-to-be-bigger-than-his-ego/2013/12/08/

Scan this QR code to visit this page online: