Israel boasts four major cities: Jerusalem, Tel Aviv, Haifa and Beersheva. Jerusalem is the nation’s capital. Tel Aviv is the commercial capital of the country. Haifa, with its port, can indeed be called the capital city of the north and a major gateway into the country. Beersheva is the largest city in the southern part of the country and has been called the “the capital of the Negev.”
Despite its pretentions of being the capital of the Negev, until a few years ago Beersheva was a sleepy city with depressed real estate prices. This started to change when the Israel Defence Forces decided to build a large military base and town for officers and their families called “Ir Habadim” in the Negev. The construction of new roads and train lines meant that Beersheva and other cities in the Negev were easier to reach from the rest of the country.
In addition to this, Beersheva boasts one of Israel’s major universities, Ben Gurion University. The academic opportunities have brought Beersheva many new, quality residents as students and faculty flocked to the city.
Beersheva is one of the ancient cities of Israel and it enjoys a rich ancient history and abounds in historical sites. It houses one of the five District Courts (the others being in Jerusalem, Tel Aviv, Haifa and Nazareth). It also happens to have a vibrant market which is fun to shop in.
Beersheva has room to grow, and many new real estate projects and entire neighborhoods have cropped up around the city in recent years. Prices of residential and commercial real estate in Beersheva are on the rise.
Beersheva has another important resource for any city, a soccer stadium. The current Vesserman Stadium, which is located in the center of the city, is to be replaced by a new stadium currently under construction. The land of the old stadium, which is owned by the municipality, will be marketed to land developers for the construction of residential apartment buildings. The neighborhood will be called “Kiryat Ganim” which literally means the “city of gardens” and it will incude 2,000 apartments in 18 towers of 18 – 23 floors each. In the middle will be a 30-dunam park. The complex will also have 3,000 square meters of commercial property including a gas station and 12,000 square meters of office space. This project will be located in the center of the city instead of on the periphery, which is where most new apartment projects are built.
It appears that in light of what may be called Beersheva’s rising star in recent years, and the interest of investors from abroad that the city has received, that this and other real estate investments around the city may be worth considering.