Army's southward move unlikely to boost Be'er Sheva's real estate fortunes

The state's current plans for attracting people to move to the Negev will have little effect on the southern region, according to Dr. Oren Yiftachel, a geographer from Be'er Sheva's Ben-Gurion University.

Yiftachel and several other urban-planning experts fear that even the plan to transfer some of the Israel Defense Forces' large bases down south will not benefit the Negev's largest city, or its large population of people under the poverty line. The communities that stand to gain most from the IDF move - and from the large contingent of career officers who are expected to relocate to the Negev as a result - are smaller, richer ones like Lehavim, Meitar and Omer, according to Yiftachel.

Rejuvenating one of Israel's oldest urban centers

Founded 130 years ago in 1878, it was one of the countries first Jewish agricultural settlements. But much water has flown down the Yarkon River since then, and it is now a large, bustling city covering an area of 10,000 acres with a population of just under 200,000.

Given the city's proximity to Tel Aviv and its holding of necessary land reserves, Petah Tikva is set to expand rapidly.

In Sderot, real estate woes punctuate rocket blasts

Questions about apartment prices in Sderot prompt an angry retort from Yaakov Solomon, who runs a small real estate agency in the center of town. "Sderot is not for sale," he says, but does not deny that property values have plummeted in recent years, to the point that "they can't drop any further."

His sense that prices have recently stabilized gains credence from the Israeli real estate Web site. Here it says that although prices in Sderot are lower than anywhere else in the South, they have remained stable over the past two months.

Migdal continues real estate investments

Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) has completed its purchase of the Herzliya Life Plaza complex for NIS 300 million. The purchase was made with funds from participating life insurance policies.

The 22,000-square meter two-building office and commercial complex was bought from a subsidiary of Fishman Holdings CA Israel Ltd. is the primary tenant in one building; construction of the second building is due to be completed by mid-2008 and marketing of space is now underway.

Property Sellout in the Capital

The five-star Palace Hotel and Residences, now rising behind a preserved ornate arabesque facade close to the Old City of Jerusalem, is set to be the last word in luxury - but also to meet the most demanding religious requirements of ultra-Orthodox Jews. So, for example, there will be no mixed swimming there and instead it will boast two pools - one for men and one for women. And apart from meticulous observance of kashrut and the Sabbath, the Palace's main attraction for its target clientele will be its proximity to Judaism's most holy site, the Western Wall of the Temple Mount.