IDF Withdrawing From Bases in Central Region

YERUSHALAYIM -

The Israeli government has unveiled a plan for a massive shift in the distribution of military bases from the central region to the north and south, which will free large tracts of land, help to reduce the military budget and boost the economy, especially in the national periphery, Globes reported.

“Other than a few bases, all of central Israel will be free of IDF bases — that is the goal,” Prime Minister’s Office Director General Harel Locker told the Globes-BDO Ziv Haft Capital Market Conference.

“This has several advantages,” Locker said, “First of all, it is a huge infrastructure project, involving tens of billions of shekels, and this sort of government investment will contribute to economic activity.

“Also, the plan will free land for more than 100,000 housing units in high-demand areas in central Israel, and establishing this many bases in the periphery will be a tremendous economic boost for the north and the south of the country. Tens of thousands of career officers and soldiers will work, live, buy, and enrich these areas,” Locker said.

All the IDF bases between Haifa and Be’er Sheva are to be closed, and new bases will be constructed using money raised through capital markets.

“In order to … raise the funding to carry out this massive, once-in-history operation from the capital markets. In a word: securitization. … The most expensive lands in high-demand areas. The state will sell them for tens of billions of shekels,” according to Locker.