Yokneam Mayor Roman Peres signed a master plan agreement with the of Construction and Housing Ministries and the Finance Ministry . The agreement includes an investment of approximately NIS 1.8 billion, which will enable the city’s population to double from about 25,000 to 50,000 residents.
As part of the agreement, about 6,000 new housing units will be built in Yokneam alongside approximately 10,000 square meters for commerce and employment. The signing ceremony was attended by Acting Construction and Housing Minister Chaim Katz, CEO of the Construction and Housing Ministry Yehuda Morgenstern, and Deputy Accountant General at the Finance Ministry Yishai Ben Eli.
Approximately NIS 1.4 billion of the total budget will be allocated by the Construction and Housing Ministry for the development of new complexes. Additionally, NIS 85 million will be transferred to upgrade city infrastructure in all neighborhoods, and another NIS 220 million will be allocated for the establishment of public institutions in the new neighborhoods and for upgrading existing institutions.
Yokneam Mayor Roman Peres said, “Yokneam is writing a new historic chapter today.” He emphasized that the unprecedented investment will ensure “for our children a future of innovative education, a strong community, and one of the highest quality of life standards in the country.”