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Security07:55 · 21m ago

Jerusalem Court Rejects Investors' Bid to Block Sale of Prime Land by Greek Orthodox Patriarchate

YnetCenter
Translated & summarized from Ynet by baba
The story · English

The Jerusalem District Court dismissed a request by a group of investors led by attorney Yehuda Talmon to prevent the Greek Orthodox Patriarchate from selling about five dunams of land in central Jerusalem. The investors also lost their appeal at the Supreme Court. The disputed land is located on Emil Botta Street near the King David Hotel and the French Embassy. The conflict dates back to 1999, when the Patriarchate signed a combination deal granting the investors rights to roughly one dunam, planned for about ten apartments. However, the deal with Avital Properties fell through, and a similar agreement with Nof Tzmarot was also not realized.

The investors recently discovered the Patriarchate's intention to sell the land to a foreign company registered in the Virgin Islands and sought an injunction to block the sale. Judge Avigdor Dorot rejected the injunction, criticizing the investors for delay and for failing to disclose the combination agreement and ongoing legal dispute with Avital. He noted these omissions as material facts and ruled the investors' chances of success were low, not meeting the threshold for an injunction. The judge also stated the investors should have included Piero Company, which the Patriarchate sold part of the land rights to, in the proceedings.

The Greek Orthodox Patriarchate owns extensive land in Jerusalem, including about 570 dunams in neighborhoods like Talbiya and Rehavia, where around 900 apartments, hotels, and public institutions have been built. Over the past two decades, the Patriarchate has sold or entered combination deals on some of these lands, raising concerns among tenants about the future of their homes as lease agreements expire. In 2022, the Patriarchate signed a deal with American developer Gary Barnett, intensifying tenant worries. Negotiations between tenants and the company are currently ongoing.

Read the original at Ynet
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