A ceremony took place between the Israel Lands Authority and the Hebrew University as an Agreement was signed providing for the transfer of lands to the State of Israel for marketing for residential housing and commerce in the City of Jerusalem. The Agreement signed is based on the Recovery Agreement signed in 2018 between the State of Israel and the Hebrew University in which the University undertook to realize assets in the amount of 400 million Shekels.
The Agreement calls for transfer to the Lands Authority historic lands owned by the University that have planning potential on Mount Scopus and at Givat Ram, in an overall area of some 150 dunam and the Authority will work to promote the planning and development of the areas and market them for residential housing, rental housing, assisted living facilities, commerce and employment.
An evaluation of the land planned was carried out by the Appraiser of the Jerusalem area in the Israel Lands Authority according to the anticipated program and set at about 1.6 billion Shekels.
In exchange, the Authority will transfer to the University a sum of 400 million NIS as a first payment and not conditional on the land, and this sum will serve to benefit the University to meet the said commitment in accordance with the Recovery Agreement. In addition, the University will receive from the Authority a percentage of the marketing of the areas. All of the monetary compensation will serve the Hebrew University for its main activities of research and teaching.
Furthermore, the University is working towards establishment of a new complex of dormitories for students on the Edmond J. Safra Campus at Givat Ram and it would have about 900 rooms, and that alongside a complex of housing for staff with 90 apartments, for use by young researchers that will be hired in the coming years. Some of the funding for the construction of the dormitories will be received from the Finance Ministry in accordance with the Government’s decision which undertook to give the University a grant of 100 million Shekels towards construction of the dormitories.
The Director of the Israel Lands Authority, Mr. Yaacov Koint said: “Since the first lease agreement was signed between the Israel Lands Authority and the Hebrew University in 1968, many areas were leased to the Hebrew University which expanded its activities and found expression in the establishment of the new campus on Mount Scopus at the beginning of the 1980’s. I welcome the signing of the Agreement today between the University and the Israel Lands Authority whose essence is the return of lands that are not being used by the University and their betterment for the development of the City. I have no doubt that these lands will provide some 2,000 housing units and 70,000 sq.m. for employment that includes hi-tech areas and upgrade of student dormitories which would provide an economic leverage for Jerusalem. I am pleased that we found, after great efforts and good will by all parties, the golden path that will enable also the recovery of the University and releasing it from debts and also building in Jerusalem in one of the most beautiful areas in the State of Israel.”
The President of the Hebrew University, Prof. Asher Cohen said: “The Management of the Hebrew University and the Management of the Israel Lands Authority worked together for nearly three years to promote an important and unprecedented Agreement for the City of Jerusalem and the Hebrew University. The arrangement is part of the action by the University Management to strengthen its economic stability and increase its funding sources alongside an upgrade of the student dormitories and establishment of a unique and quality residential complex for the benefit of young staff. The money that will be received will provide an important monetary source for development of academic activity and a marked increase of investment in infrastructure. The arrangement is expected to bring about broad development of the area adjacent to the Mount Scopus Campus and increase the supply of apartments available in Jerusalem.”
The Mayor of Jerusalem, Mr. Moshe Leon: “The Agreement signed today is no less than historic and symbolizes the broad revolution in construction and infrastructure that is currently changing the face of Jerusalem and establishing its future for many years to come. When this large project is completed, there will be about two thousand residential housing units and tens of thousands of square meters for employment, commercial activity and offices. The apartments constructed here will merge the Campus and the City and will become a new and unique neighborhood.”
The Minister of Housing and Construction and the Minister of Jerusalem Affairs, Mr. Zeev Elkin: “This is completion of the circle: Completion of the process of the Agreement that will enable the University to move forward with much better conditions than in the past. We are also completing the step and instituting a move that will strengthen Jerusalem: also about two thousand apartments and promotion of Jerusalem as the capital city and 70,000 square meters of employment and commercial activity – a flow of oxygen for the developing city. This is a strategic step in three aspects: it strengthens the University, provides additional housing and also provides job openings; three things in one Agreement.”
