Acre, a city with many tourist attractions such as the lofty Crusader Halls, the ancient city, the port, the famous prison and a beautiful beach, a city that was declared a world heritage site by Unesco, has been neglected for many years by the nation. This has affected real estate prices in the city. In short, the much talked about real estate balloon has not reached Acre.
This is going to change. A recent decision was made to enlarge the beach by reclaiming some of the sea and building one of the nation’s most beautiful boardwalks. A boutique hotel and shopping mall near the beach are planned as well.
In addition to the plans for the beach, the beautiful historical building “Chan El Omdan” which is located near the port, has been sold to a private company and is slated to be transformed into another boutique hotel. The building with its clock tower, which was built at the end of the 19th century, will include a spa, a swimming pool, 84 rooms and shops.
Although all this is still at the planning stage, the effects are beginning to be felt in the local real estate market and prices have begun to rise. There is a hope that these new developments will bring not only tourists and new jobs, but new residents as well.