The Jerusalem Municipality is actively engaging with international hi-tech companies that have expressed their keen interest in collaborating to promote the development of the hi-tech sector in East Jerusalem.
In a recent statement, the municipality emphasized the significance of this partnership in driving economic growth not only for Jerusalem as a whole but also for the specific region of East Jerusalem. The municipality aims to enhance employment opportunities in the hi-tech industry by harnessing the expertise of leading market players and leveraging the human capital from East Jerusalem.
As part of a groundbreaking and far-reaching plan, the municipality intends to establish an expansive business complex known as “Silicon Wadi” in East Jerusalem.
This visionary initiative promises immense economic potential, encompassing approximately 150,000 square meters of employment, commerce, and hotel spaces. Its primary focus will be on creating high-quality job opportunities within the hi-tech sector. Additionally, the plan includes the construction of 190 residential units, contributing to the overall development of the area.
Commenting on the project, municipal representatives stated, “This endeavor marks a significant and meaningful step forward on our journey towards the realization of a historic plan for the eastern part of the city. The program is poised to make a substantial impact on the economy of Jerusalem, with particular emphasis on bolstering the economic landscape in East Jerusalem.”
“By engaging leading companies in the market and tapping into the talent pool from East Jerusalem, we will work in full coordination with employment and training entities to bring about a tangible transformation in the region.”
The plan not only holds tremendous economic benefits for the State of Israel but also assumes paramount importance for the city of Jerusalem. With its emphasis on creating employment opportunities and fostering innovation, the initiative aligns with the municipality’s larger objective of reducing socio-economic disparities.
This ambitious program, which has received approval from the District Planning and Building Committee, serves as a pivotal milestone in the government’s overall five-year plan to promote economic development and bridge gaps in East Jerusalem.
As the project moves into the implementation phase, the municipality is committed to comprehensive infrastructure upgrades and development to ensure a high-quality business environment in Jerusalem. Key areas of focus include sewage, water, drainage, communication, lighting, electricity, accessibility, flooring, street furniture, sidewalks, and roads.
Undoubtedly, the implementation of this complex venture represents one of the most ambitious undertakings in Jerusalem’s recent history, poised to bring about a significant urban and national transformation.
The collaboration among various stakeholders, including planning entities, landowners, professional training institutions, and leading tech companies, underscores the collective commitment to ensure the success of this landmark project.