Eden CEO Yehuda Saban Unveils Jerusalem Entrance Business District Revolution
Eden CEO Yehuda Saban presented the massive infrastructure and business district revolution at the entrance to Jerusalem, highlighting a new 40-story mega-project, tax benefits, and unprecedented transit connectivity.
At the Israel Real Estate Conference, organized by Globes and Bank Leumi, Yehuda Saban, CEO of Eden—the Jerusalem Economic Development Company—presented the infrastructure revolution underway at the entrance to Jerusalem.
A Dual-Armed Development Strategy
Yehuda Saban explained that Eden is fully owned by the Jerusalem Municipality and operates through two distinct strategic arms:
"The first arm develops urban business centers, notably at the entrance to the city. The company manages initiation and development processes, with 36,000 housing units under our jurisdiction. The second arm is commercial—Eden is responsible for establishing and operating energy facilities, parking lots, and other infrastructure using private, non-governmental funding."
Saban focused heavily on the flagship business district project at the city's entrance. He noted that while Jerusalem has long possessed immense assets—including academia, culture, government institutions, and numerous small businesses—it is now establishing a major central business district designed to integrate these existing strengths.
Unprecedented Transportation Connectivity
According to Saban, robust and accessible transportation is the critical foundation for this economic shift:
"Without the current and upcoming transportation infrastructure, I wouldn't have moved to work in Jerusalem myself. The high-speed rail changes everything, alongside the Red Line traversing central Jerusalem, the L3 line opened a few weeks ago, and another line scheduled to open by the end of the year. The entire business district will connect to an unparalleled transportation hub in Israel. For those driving, we have opened the largest parking lot managed by Eden on Shazar Street, adjacent to the Central Station."
Tax Incentives and Mega-Projects
Saban highlighted several major real estate developers already active in the district, including Ashtrom, Amot, Israel Canada, and B.S.R. He also pointed to upcoming opportunities near Avraham Shapira Street, the National Insurance Institute, and Begin Road, where the Israel Land Authority (ILA) is expected to publish tenders soon.
Among these is "Complex C," a mega-project located near the train station. The site will feature a 40-story tower spanning over five dunams (1.2 acres) with 78,000 square meters of built area. While a significant portion is designated for hotel use, there is an option to convert parts to residential spaces to maximize attractiveness.
Furthermore, Saban emphasized that the state is offering substantial tax benefits and grants to both large and small businesses relocating to the area. This financial support, combined with the new infrastructure, aims to retain local talent and students who previously migrated to central Israel for career opportunities.
