When ‘unbelievable’ private equity funds raise money for Jerusalem
A group of private equity firms is raising money to help rebuild the Old City in Jerusalem after a devastating Israeli attack on the city last year.
The money will come from the private equity firm Haim Saban and his family’s investment company.
The funds aim to invest in projects that will provide long-term investment opportunities for the city, and the funds aim also to help Palestinians.
The private equity companies plan to help finance construction of a new, multi-purpose neighborhood in the Old Port area of Jerusalem, where the Palestinian neighborhood of Beit Hanina was demolished after the Israeli military destroyed a tunnel used by Palestinians to access the Old Temple Mount.
The city’s Old City was devastated after a tunnel was dug by the Israeli army in 2015 that led to an Israeli assault on the Muslim quarter of Jerusalem that killed three Israeli soldiers.
The Israeli military, however, did not destroy the tunnel, and Palestinian leaders have said that they have no plans to build another tunnel, despite a long-standing Israeli plan to destroy all tunnels under the Temple Mount, which is in violation of the 1979 Oslo Accords.
Haim Saban, who owns Haim Investment Group, which will be the primary investor in the funds, said the funds will invest in infrastructure projects that help rebuild Jerusalem after the attack on Jerusalem.
Hemer Ben-Zvi, chief executive of Haim Fund Management, said that the money will help rebuild and modernize the Old Quarter.
The Old Quarter was built between 8500 B.C. and 1100 B.E. The area is home to the Al-Aqsa Mosque, which the Muslim Prophet Muhammad built in 1032 and has been an important tourist destination for the Jews.
The Muslim Quarter is also home to other holy sites, including the Dome of the Rock and the Noble Sanctuary in Jerusalem.
The Old City is the heart of Judaism and Christianity, and it is the most holy place in the Jewish religion.
Hamas, which controls Jerusalem, has been trying to annex the Old Town since 2013, and in 2015, Israeli forces attacked the Old Square, which was once home to some 30,000 people.
Haim, who founded the private investment firm Hask Saban Capital in 2003, has invested in several Palestinian cities in the West Bank and Gaza Strip.
Hask Saban was founded in 2000 by the brothers Yossi and Amir Ben-Sasson.