The campus is being built in cooperation with the Jerusalem Municipality and the Jerusalem Development Authority, and it will consist of four buildings covering a total of ~270,000m². It will be built as an innovative and green park, complying with international planning and environmental standards including CLASS A structures with high LEED standards. The project, planned by Architect Prof. Moshe Zur, will be executed in two stages: Stage I is expected to consist of three buildings covering ~130,000m² and Stage II will include construction of a tower covering ~140,000m². The park is expected to employ ~10,000 workers. Gav Yam’s share of the expected profit is ~113M NIS per year, after completing and fully occupying the project.
The cornerstone ceremony took place this morning with representatives from Gav Yam, the Hebrew University, Jerusalem Municipality and Jerusalem Development Authority. Construction work began in the last few days. According to the plans, operating the park within the Hebrew University will enable university students and graduates to integrate in hi-tech while conducting their studies.
Mayor Moshe Leon: “This is an exceptional achievement for Jerusalem and its residents as now, it will not only be Israel’s heartbeat, but also the country’s larges hi-tech, science and technology center. I am proud to lay this cornerstone, reflecting the first step on Jerusalem’s exciting and unique path on the way to becoming Israel’s hi-tech city”.
Avi Jacobovitz, Gav Yam CEO: “By establishing the hi-tech park at the Givat Ram campus, we are facing a significant milestone in the history of Jerusalem and the Hebrew University. The unique tapestry and collaboration will alter the gravity of hi-tech parks in Israel, transforming Jerusalem into one of the leading demand areas and setting a new and high bar for hi-tech parks in Israel. The ecosystem will combined the academic infrastructures and hi-tech industry, providing a foundation for long-term growth and leadership.
The company continues its ongoing operations, leading long-term entrepreneurial projects consisting of eight projects. Upon completing these projects, the company’s yielding asset portfolio will cover ~1.2M m², which will generate an annual yield of ~700M”.
Gav Yam continues to significantly increase its operations and collaborations with leading academic institutions in Israel including, inter alia, Ben Gurion University of the Negev and the Weizmann Institute. This strategic transaction reflects a stepping-stone in the field and in Gav Yam collaborations with leading academic institutions.
The company continues its ongoing operations, leading long-term entrepreneurial projects consisting of eight projects. Upon completing these projects, the company’s yielding asset portfolio will cover ~1.2M m², which will generate an annual yield of ~700M”.
Hebrew University President, Prof. Asher Cohen: “We have made a breakthrough. For the first time in Israel, a huge hi-tech employment compound is being built within a university campus. I am proud of the Hebrew University for leading a unique approach and endeavor, aided and encouraged by the Mayor of Jerusalem and the Jerusalem Development Authority.
“Gav Yam Hebrew Park” will enable daily research and scientific connections between university researchers and the forefront of advanced technology in Israel. Here, Hebrew University students and graduates of engineering, exact sciences, computer sciences and data sciences, as well as students from other faculties, will be able to learn and work together. This endeavor will take Jerusalem’s hi-tech and the city’s multiple employment opportunities ahead. The park is already generating a great deal of interest and we expect that, within a few short years, thousands of employees, researchers and students will visit the Hebrew University daily in order to work at the park”.
The cooperation between a leading real estate company like Gav Yam and a leading university like the Hebrew University will create a unique ecosystem that combines the quality knowledge and human capital at the university with the creativity and entrepreneurship of hi-tech companies”.
Gav Yam Chairperson, Alejandro Elsztain: “Gav Yam Hebrew Park is the first hi-tech park in Israel to be built within an academic institutions. The cooperation between a leading real estate company like Gav Yam and a leading university like the Hebrew University will create a unique ecosystem that combines the quality knowledge and human capital at the university with the creativity and entrepreneurship of hi-tech companies”. Together, we will make Jerusalem a hi-tech center, as we dreamt for many years.