The Orchidea Hotel company, owned by the brothers Avi and Joe Nakash, has won a tender for the construction of a tourist village on the Kursi beach at the Sea of Galilee. The brothers plan to make an initial investment of $100 million in the building of a 400-room complex on a 100 dunam (25 acre) plot. The village will consist of individual chalets and private swimming pools for guests. Construction work is expected to begin in six months time, following the issue of the relevant building permits. A spokesperson for the Nakash brothers said they “believe in Israel’s economy and tourism industry and have plans to invest in further projects throughout the country.”
The Orchidea hotel company also owns the recently renovated and enlarged Orchidea Hotel in Eilat. Several months ago, the Nakash brothers acquired Israeli airline Arkia Airlines Ltd. from the Borovich family. They also own Ampa Real Estate Ltd.
Originally planned several years ago, the holiday village project has met with strong opposition from environmental groups, headed by the Adam Teva V’Din - Israel Union for Environmental Defense , which collected 40,000 signatures of people opposed to the scheme but still failed to block its approval.
Minister of Construction and Housing Meir Sheetrit said today that he intended to put an end to planned constructions of tourism and holiday villages on the Sea of Galilee shorefront, and would prevent the issue of tenders for such projects. He added that he could not prevent the construction of the Kursi shorefront scheme as the construction plans had already been approved, but that he would push for a comprehensive plan for the Sea of Galilee shoreline that would ensure a balance was maintained between preservation and development.
Published by Globes [online], Israel business news - www.globes.co.il - on June 14, 2006
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