Teshuva Family Invests NIS 150 Million in Hamat Gader Spa
Translated & summarized from TheMarker by baba
Gal Naor, daughter of Yitzhak Teshuva, has purchased a 70% controlling interest in the Hamat Gader spa for NIS 150 million. The Israeli government had previously provided licenses and land benefits to the site to encourage border settlement. Hamat Gader, known for its natural thermo-mineral springs, has faced economic instability. The deal prompts debate over the privatization of natural resources.
The story in 5 lines · by baba
- Gal Naor acquired 70% of Hamat Gader for NIS 150 million.
- The Teshuva family is behind the investment in the Golan Heights spa.
- Hamat Gader holds licenses for thermo-mineral water use and land benefits.
- The spa has experienced economic instability in recent years.
- The deal raises questions about privatizing natural resources.
The Teshuva family, through Gal Naor, daughter of Yitzhak Teshuva, has acquired a 70% stake in the Hamat Gader spa and resort located in the southern Golan Heights for NIS 150 million. The Israeli government granted Hamat Gader licenses for the use of its thermo-mineral waters and land benefits to encourage settlement on the border. Despite its natural resources, the site has suffered from economic instability over the years. The acquisition raises questions about transferring rights to a rare natural resource to private hands and the associated costs. The resort is situated along the Yarmouk River, a main tributary of the Jordan River, near the Jordanian border. The area is characterized by arid landscapes in early autumn, contrasting with the greener surroundings of the Sea of Galilee region nearby. Hamat Gader is known for its natural hot springs, with waters reaching 42 degrees Celsius and attributed with health benefits.
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