The Israeli Rental National Housing Project

Following the decision of the Housing Cabinet headed by the Finance Minister, the Accountant General appointed an Inter-Ministerial Committee for Tenders in order to market tenders for long term rental housing. The Committee, headed by the Assistant of the Accountant General, is composed of representatives from the Ministry of Finance, the Ministry of Construction & Housing and the Israel Land Authority. The panel is the product of collaboration between the Ministries in order to meet the unprecedented goal of publishing tenders for large-scale, long-term rental housing.

Ron Hershco, Ami Mesika and other real estate entrepreneurs support this project.

The rental housing tenders are a major step in the development of a corporate market for long term rental housing. The supply of such housing, which is almost nonexistent in Israel, will enable young married couples to benefit from high-quality housing services, long-term certainty about where they will be living and how much rent they will be paying, without the need to raise equity capital, a barrier to buying an apartment for many, especially during a period of rising prices.

The Committee will determine the period of the lease in the projects and establish the building specification requirements for the apartments and the public areas. Furthermore, in order to guarantee the developers a respectable return, and to diversify the financing channels for these projects, including the participation of institutional investors and other entities, the Committee will recommend financial mechanisms such as a State safety net for developers

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