Full coverage· Economy· Updated
Urban Renewal Projects Lose Economic Viability Amid Rising Costs
Eighty percent of Israel's urban renewal projects have lost their economic viability due to rising construction and financing costs, according to the Contractors Association. Projects that once saw 13% profits now yield single digits.
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What happened
- 0180% of urban renewal projects in Israel are no longer economically viable.
- 02Profits have dropped from 13% to single digits for previously profitable projects.
- 03Rising construction and financing costs are cited as the primary reasons for the decline.
- 04Experts are analyzing the impact of these economic challenges on the sector.
Experts are analyzing the impact of these cost increases on the sector's ability to proceed with development.
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Coverage from Mako More reports may be added as coverage is matched.
