Many of the homeowners in Jerusalem are leasing lands owned by Greek Orthodox Church and these people are now accusing the organization, which is considered as quasi-governmental. The Greek Orthodox Church is the one holding the lease of their properties and they claimed that the organization failed to do something regarding the issue of their lease expiring soon as well as the continued reduction of their properties’ value.
There are over a thousand families living in the lands that are being leased by the church through Keren Kayemeth LeIsrael which is the Jewish National Fund. The lease is said to last for 99 years and is going to expire in another 35 years. It was according to the deal that was also signed by the church way back in 2011. The lease will not be given to the hands of a group comprised of private investors.
When this happens, the residents have to face the fact that they might lose their properties. It can be prevented if the KKL-JNF will be able to make a deal with the investors. Five years have already come and gone by but the organization was not able to initiate a sit down with the investors.
The Rehavia neighborhood has two sections which are going to face the issue sooner since their lease will be expiring in just another 18 and 19 years. These sections are Rosh Rehavia and Gan Rehavia.the leases under both sections will be given to the private investors from Israel. Among these two, there are over 100 families who will be affected by the decision. They can choose to leave their properties and receive no compensation or they may repurchase it under the new owners but the price will be higher.
This problem is in smaller scale in comparison to what will happen after 35 years once the lease of the remaining large number of residents in the central Jerusalem have expired. The new lease holder of the land covering from Talbiyeh to the Nayot section will be Nayot-Kommemiyut which is another group of private investors. The land in the sections have more than a thousand of apartment buildings, hotels, public buildings and a part of the well known Great Synagogue. If you are planning to own a property rather than lease in Australia then aveling-homes.com.au is the answer.