Wednesday, June 25, 2008

Haifa Planning for the Future

Returning from a visit to one of the local supermarkets, we drive by the high rise office block of the Electricity company and between two major plots of land to be developed according to the billboards placed on the roadside adjacent to each plot.

On one side there is to be the new location for the soccer stadium for local team Maccabi Haifa. It is moving from a congested area in the middle of town (no doubt to allow for more residential development) and into this new area which will ease access to the stadium and provide modern sports facilities for a soccer team that has traditionally performed well, except for last year!!!

On the other side of the road, the billboard announces the construction of a giant life sciences park with an investment of $150 million. Companies involved in research and development in the health field will all be gathered together on one site.

This park will be the first of its type in Israel and will bring together coompanies involved in bio technlogy, nano technology and medical equipment. There will be a campus of 5 buildings connected by walkways and underground parking for all.

This will create even more work opportunities and should bring an influx of families to the area. In may respects Haifa has been underestimated but this will create an amazing range of opportunities for the city.

House prices which are probably the best value for money in the country are all already starting to go up and investments in work opportunities such as the life sciences park will undoubtedly put pressures on the housing market.

Together this augers well for the future of Haifa

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