Shikun & Binui Concessions with Africa Israel Properties (AFI Properties) signed last month the DBFOM concession agreement in Israel for the development of the Cyber & Telecom HQ Israel Defense Forces Army Base with Ministry of Defense. This multi-billion project has a concession period of 25 years.
The construction joint venture will comprise Solel Boneh and Danya Cebus (in equal parts) and the expected construction period is approximately 60 months until completion . After the construction period, the project will be operated and maintained by Shikun & Binui and Africa Israel Properties for 20 years. The IDF Telecom HQ is expected to include a number of different units and is being established as part of the relocation of Israel's Defense Forces (IDF) army bases to the Negev area in Southern Israel.
The project will be financed by a consortium led by Bank Leumi together with a number of institutional and banking institutions.
Country updates
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June 24, 2018
According to sources, the financing for the project is unlikely to feature any foreign lenders due to revenue risk
