The state of Israel has launched a first-of-its-kind retirement village in Arad, based on an American model.
The Israel Land Authority is marketing land for the construction of a special retirement village in Arad for those aged 60 and over, with about 2,000 housing units, including leisure and recreation, sports, and golf.
Yaakov (Yankee) Quint, Director of the Israel Land Authority, remarked on the project, saying, "For the first time in Israel, the ILA is publishing an initiation tender for the establishment of a retirement village in the format of the American model, intended for those aged 60 and over. The complex will include about 2,000 housing units and a wide park for leisure, recreation, sports, and golf.”
“This is a strategic move that reflects our commitment to promoting advanced housing solutions for the elderly population," he stated.
This is the first stage in promoting the initiative. The complex marketed in the tender is intended for the construction of a special residential neighborhood for the elderly, including leisure and recreation facilities in Arad.
The winner
The winner will first be signed with a development contract for a period of 6 years, during which the winner will be required to prepare a new plan designated for residential, leisure, and recreation, to be duly approved by the planning institutions, and to complete the construction in accordance with the milestones specified in the tender.
Upon completion of the planning proceedings, a lease contract will be signed with the winner.
The marketed complex is part of the Arad urban development area and is located in the northern part of Arad, adjacent to open spaces of scenic value; accordingly, alongside the residences, it includes areas for leisure and recreation.