Palestinians launch $220 million housing project

[oberliner]

RAMALLAH, West Bank (Reuters) - The Palestine Investment Fund (PIF) on Monday announced the establishment of the Palestinian territories' most ambitious real estate project to date, with initial capital of $220 million.

The goal is to create 30,000 new housing units in the next five to 10 years, PIF Chairman Mohammad Mustafa said.

"We want to see projects on the hilltops other than (Jewish) settlements," Mustafa told reporters.

"The aim is to participate in building Palestine in the coming period, to create jobs and economic opportunities."

The newly founded Amaar Real Estate Group, which will be listed on the Palestine stock exchange, will take over existing housing and tourism facility construction projects worth about $1 billion, Mustafa said.

He said the PIF, which administers public funds, expected to double the investment to $2 billion over the next five years.

http://www.reuters.com/article/newsMaps/idUSTRE59B45020091012

[LeftishBrit]

1. Hoping for the success of this project

[oberliner]

2. Mohammad Mustafa used to work for the World Bank

For what that is worth. I would think that things would be a lot more transparent now than they were in the Arafat days.

[shira]

3. great news!

Looks like the Palestinian street wants jobs and homes, no more Intifadas.

Hamas incitement over Jerusalem fails to ignite West Bank
http://www.haaretz.com/hasen/spages/1120099.html

There are many reasons for this. The residents of the West Bank are tired of violent confrontations, no less when their living conditions are improving, many roadblocks are being lifted and law and order in the Palestinian towns has been restored. Hamas may declare a "Day of Rage," but such days are rare nowadays in the West Bank. Desperation has been made more comfortable.

Second, there has been a lack of leadership and no one is out there capable of rallying the masses and organizing demonstrations at more than one place at the same time. The Islamic Movement is absent from the West Bank, Hamas avoids taking action, fearing that the Palestinian Authority would take action against it, and Fatah makes do with a declaration of a general strike on a Friday - the day considered to be the day off.

[Kurska]

4. Cool, good news. n/t