Teshuva Family Invests ₪150 Million in Hamat Gader Spa
Translated & summarized from Haaretz by baba
Gal Naor, daughter of Yitzhak Teshuva, has purchased a 70% controlling interest in the Hamat Gader spa for 150 million shekels. The Israeli government had previously provided licenses for the site's mineral waters and land incentives to promote border settlement. Hamat Gader, known for its natural hot springs, has experienced financial instability over the years. 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 150 million shekels.
- The Teshuva family is behind the investment in the Golan Heights resort.
- The Israeli government granted Hamat Gader water and land use benefits.
- Hamat Gader has suffered from economic instability.
- 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 site for 150 million shekels. The Israeli government granted Hamat Gader licenses for the use of its thermo-mineral waters and land benefits to encourage settlement on the border. Over the years, the site has faced economic instability. The acquisition raises questions about transferring rights to a rare natural resource to private hands and at what cost.
Hamat Gader is located in the southern Golan Heights, along the Yarmouk River, the main tributary of the Jordan River. The landscape near the site, bordering Jordan, is arid in early autumn, contrasting with the greener areas closer to the Sea of Galilee. As one approaches Hamat Gader, the landscape becomes greener, with large signs announcing the entrance to the resort and its main attraction: natural springs with thermo-mineral waters reaching 42 degrees Celsius, believed to have health benefits.
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