(COMMUNICATED CONTENT)

Intensive Pace of Construction: After basement floors, first residential story nears completion * City Engineer calls site “an extraordinary project” * Reveals that the level of investment by developers “by far exceeds requirements by authorities.”

Yerushalayim…With the advent of the Yomim Tovim, the development of Jerusalem Estates is progressing at a feverish pace. Anyone passing the Schneller Compound area cannot ignore the substantive change in the familiar Jerusalem view. Several months ago, the basement floors and the underground parking lots were completed. These days, the first residential floor overlooking the main street below, is rising rapidly amongst the nearby preserved buildings projecting the history of Yerushalayim.

Overlooking the Yerushalayim view, the elite residential project of Jerusalem Estates, the most beautiful and breathtaking project in the city, continues to progress. It projects the most modern standards in construction, and is a distinctive presence in the urban residential market. This is apparently the reason that the Planning and Design Committees of the Municipality views this project as the blending of the past and future and considers it a flagship development for the community of shomrei mitzvot that want to reside in this most elite development. It is what prompted the Chief Municipal Engineer, Shlomo Eshkol, who heads the “planning pyramid” of Yerushalayim, to visit Jerusalem Estates. He was anxious to see first-hand the evolving enormous project taking shape. Eshkol was extremely impressed, noting: “The Schneller project is a dramatic development for the city.

As he continued the tour, he focused on some of the unique features of the project: “As part of the development of the compound, we are preserving 8 historic buildings and adding some unique structures, providing the framework for the entire development and the new luxury residential buildings. It will certainly enhance our feelings about the project at headquarters.”

Every Yerushalmi remembers the Schneller Compound as a site that was neglected and not cared for. However, visitors to the area these days can plainly see the enormous development of the Municipality that is designed to serve the residents of Jerusalem Estates in the Schneller Compound. In addition to the expansive historic public area in the compound, the Municipality is already developing the areas around the buildings of Jerusalem Estates. Luscious green areas will be integrated with the inner courtyard that will surround the buildings, nearly two acres of rare beautiful pastoral gardens, the fruits of the planning of the Zur-Wolf firm, winners of the Israel Prize for Environmental Planning.

Mr. Eshkol, the City Engineer, sees the development that blends the past and the future, as one of the city’s highest priorities. “This beautiful development can be seen by the planned inner courtyard of Jerusalem Estates as well as the public part developed by the municipality, including the Schneller Compound with its conservation structures.” He disclosed that the large structure in the center with its famous turret will in the end be developed into a Museum of major Jewish communities. He emphasizes that the level of investment by the developers “is far greater than the authorities required.” Mr. Eshkol continued: “It is our general perception in the planning division that the city of Yerushalayim will look entirely different in the next decade, more beautiful in every respect. But at the same time, we recognize the importance of preserving what we call in the Municipality “the roster of preservation sites” out of a recognition that these are sites where people lived for thousands of years.”

Mr. Eshkol saved his most effusive praise for the management of the luxury development: “Jerusalem Estates in Schneller has taken a lead role in following the criteria of simultaneous modern development and conservation with great success, both in terms of planning and execution, which is no less important. It excels in both exceptional organization and management, meeting all criteria. I think it will be an extraordinary project.”

Concurrent with the impressive strides being made in the construction of the development is the major progress being made in the sales of the luxury apartments. More than $70 million of property has already been sold as the project enters a new phase in sales.

Jerusalem Estates is one of the most beautiful developments ever built in the city. Located in one of the most impressive historic sites, it is an unprecedented residential complex in the center of Yerushalayim. It will consist of 700 residential units in an approximate area of 20 acres. Jerusalem Estates is located in the hub of the bustling charedi community in the center of Yerushalayim Ir Hakodesh. It is at the confluence of the large Chasidic dynasties, Torah centers and communities, and teeming commercial centers. Situated high above the city in a private gated estate, it is an island of serenity and tranquility in the center of a bustling city center. The complex will be closed to vehicular traffic with the residents of the buildings enjoying private underground parking below the complex with direct entrance and exit (through a tunnel) to Malchei Yisrael and Yermiyahu Streets.

The historic framework of Jerusalem Estates is in evidence everywhere, especially the eight conserved buildings, the largest of which (approximately 23,000 sq. ft) will serve as a world Jewish museum. For more information contact: SALES OFFICE,16 KING DAVID ST. JERUSALEM 94101, TEL. 972-2- 502-5502 | USA 718-564-6656 . FAX. 972-2-532-3532

http://www.jerusalemestates.com/