Military releases Tel Aviv lands

view to Sde Dov, northern coastal area to be developed

view to Sde Dov, northern coastal area to be developed

The famous Kiryah base in Tel Aviv, where inductees countrywide first arrive for their military service is releasing their 47 acre campus for development for housing and commercial real estate. It has been a city landmark for generations in the heart of central Tel Aviv.

The Tel Hashomer base is located in what has become some of the priciest real estate in the country, the land itself worth an estimated $14 billion. The military will move its central operations to new mega-bases in the Negev.

The move is an attempt to alleviate the severe housing shortage in Tel Aviv. Sde Dov Airport will also be shut down to release its land for residential development along Tel Aviv’s northern “gold coast”.

30,000 military families will be moved from Tel Aviv to Beer Sheva which will create a real estate and jobs boom in the Negev. Citigroup and Morgan-Stanley have shown interest in financing the military projects.

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