Amaar Jerusalem serves as an investment platform dedicated to investing in the Real Estate, Tourism, and Commercial sectors in East Jerusalem. Ammar Jerusalem will implement the strategy approved by the Board of Directors to develop strategic projects and create thousands of jobs for Palestinians in East Jerusalem to stimulate the economy in the city. Amaar Jerusalem aims to invest in housing, commercial real estate and tourism to improve quality of life and contribute to job creation in Jerusalem. Additionally, Amaar Jerusalem aims to crowd-in capital from strategic partners in Palestine and abroad.
Established in 2018 fully owned by Palestine Investment Fund, Palestine’s Impact-focused sovereign wealth fund, Amaar Jerusalem will be playing a major role in investing in different promising sectors in East Jerusalem. The Company will create several iconic landmarks in the city. $136M is the initial planned investment during the next 3 years in Jerusalem to include, The Jerusalem Commercial Center, a 20,000 SQM mixed use commercial center, Beit Hanina Heights a 56-housing unit development, and The Golden Gate Hotel a 208-room hotel property. Amaar Jerusalem will expand planned investment portfolio to reach a $250M budget over the next 7 years by acquiring several hotel properties in East Jerusalem and construct additional 150 housing units in the city. This will create around 4000 direct and indirect employment opportunities and provide housing at a reasonable price for young Palestinian families and promote economic development.
Vision and Mission
Vision:
Amaar Jerusalem seeks to expand the promising horizons for the tourism, commercial and residential sectors in Jerusalem.
Mission:
Amaar Jerusalem to provide housing at a reasonable price for young families, create thousand of new job opportunity and provide opportunities for young Palestinians to open and operate their own small businesses in East Jerusalem.
Values:
- Quality
- Leadership
- Participation
- Innovation
- Trust