There has been impressive demand from foreign construction companies eager to work in Israel as part of the Ministry of Construction and Housing's call, which has just expired. 50 foreign construction companies have submitted bids to work in Israel, the Ministry of Construction and Housing reports. The bidders include Chinese, Spanish, Greek, Turkish, Russian, Ukrainian, Portuguese, and Vietnamese companies.
The companies will now be examined by a committee headed by the Ministry of Construction and Housing Elad Bamberger who will investigate if the companies meet the threshold conditions set by the ministry. He will award the proposals points after examining the quality of their work.
The plan to bring in foreign companies was approved by the housing cabinet several months ago. The aim is to allow up to six foreign companies to work in Israel and each bring up to 1,000 workers to build residential projects. The companies approved can either work independently or in collaboration with an Israeli contractor for up to five years. If required, there is an option to extend operations in Israel by a further three years.
By this method, the Ministry of Finance and Ministry of Housing hope to build 60,000-70,000 homes per year.
Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2016
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