Over 50 construction companies have responded to Israel’s proposal to operate in the region
The Israeli government has received over 50 offers from firms to operate within the region and help develop the housing market.
Israel’s Request for Proposal, issued by the Housing Ministry has allowed the cabinet housing committee to approve up to six construction companies to work within Israel within the five-years and bring in over a thousand construction workers to work with local builders in specific projects.
At present, there are only 7,000 working within construction in comparison to the 20,000 which are needed in the next five years to develop the housing market. Israel is aiming to develop its housing and infrastructure through the program to reduce the price pressures and cater to supply and demand.
“In recent years, Israel’s housing market has suffered from a lack of personnel, a slow pace of construction, and expensive resources. Foreign companies, which utilize unique methods of building that are not generally used in Israel, will bring with them technology and manpower that will significantly shorten the period of construction of projects, as well as lower costs”, commented Housing Minister Yoav Gallant.
The companies, which are based in China, Portugal, Spain, in addition to many multinational companies will be vetted by a committee and legal advisor.
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