Full coverage· Politics· Updated 05:12

Colombia Opens Jerusalem Embassy After Shmulik Apote Buys Property for $7.5 Million

Colombia has officially opened its embassy in Jerusalem, located in a property recently purchased by businessman Shmulik Apote for approximately 9 million shekels. The Colombian Embassy will pay $17,000 per month in rent for the building.

2 newsrooms · 1 language · since 19 Oct, 17:07

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Colombia Opens Jerusalem Embassy After Shmulik Apote Buys Property for $7.5 Million — Illustration by baba

What happened

01Colombia's new embassy in Jerusalem opened in a building purchased by businessman Shmulik Apote for approximately 9 million shekels.
02Appraisers estimate the property's value to be between 14.6 and 15.7 million shekels, significantly higher than the purchase price.
03The property was previously owned by Hillel Zurivin's company, Nof Ha'park Hadas Capital, and was on the market for three years.
04The embassy's relocation is considered a diplomatic win for Prime Minister Benjamin Netanyahu.
05Colombia's new president, Abelardo de la Espriella, is known for his pro-Israel stance.

Appraisers suggest the property's value, based on rent and location, is significantly higher than Apote's purchase price. The embassy's relocation is seen as a diplomatic achievement for Prime Minister Benjamin Netanyahu and a political move by Colombia's new pro-Israel administration.

Translated and summarized by baba from Calcalist, the latest report. Read Calcalist’s original