New Jerusalem Business District Project "Entrance to the City" Officially Underway

Jerusalem, 27 October, 2016 (TPS) -- Jerusalem Mayor Nir Barkat said Wednesday that a business district, currently under construction near the Western entrance to the city, will transform the city and reverse decades of economic decline in the capital.

“[Jerusalem will become] a city that along with its rich history completely reshapes trends – from decline to economic growth, from negative migration to an attractive city for young people and from dwindling resources to a competitive and leading center favorable to future generations,” Barkat said.

Speaking at a cornerstone-laying ceremony attended by Transport Minister Yisrael Katz and Minister of Jerusalem Affairs Ze’ev Elkin, Barkat said the area will become the most prominent business district in the country by the time it is completed in about 2030. The district is set to be opened in stages, first one of which will begin by 2017 through the opening of  major buildings such as a trade tower and administrative offices. Construction has already started to remodel the traffic infrastructure at the entrance of the city and permit an underground route under Zalman Shazar street.

“This project is groundbreaking for Jerusalem. This is the biggest project, the most significant and vital for its future” said Mayor Barkat.

The project is expected to cost 1.4 billion shekels, will cover an area of over 211 hectares (approximately 520 acres) and is expected to create 40,000 new jobs.

When completed, the site will feature 24 buildings including 14 high rise buildings over 24 floors and  9 skyscrapers of 36 stories. In addition, the venture will have the most integrated transportation hub in Israel, incorporating the Jerusalem-Tel Aviv high speed train, two Jerusalem light rail routes, and multiple city bus lines, as well as hotels, leisure and culture facilities. About 65 thousand people will move through the district every day.

Additionally, the project aims at expanding and renovating the International Convention Center to become the largest one of its kind in the Middle East.

“We see a strategic goal in the development of industry and business in Jerusalem and in the creation of new quality jobs for the city, “ said Minister Elkin.

“ I have no doubt that the establishment of the new business district at the entrance to the city will help us to develop further the high-tech industry of Jerusalem, will greatly contribute to solving the problems of the current funding of the Jerusalem Municipality and dramatically advance the quality of life and of jobs for the city’s residents,” he concluded.

The Entrance to the City project is managed by Eden, a Jerusalem Development Authority company. Engineering and transportation are managed by Moriah, and German architectural firm Topoek1 was selected to design the project’s public space.