Saturday, April 30, 2011

Is the Satmar Project "Kiryat Yoel in Jerusalem" bancrupt ?


A while ago I was writing about the Satmar construction site in Jerusalem. In August 2007, Rebbe Aharon Teitelbaum had arrived in Jerusalem in order to lay the foundation stone of the new Satmar housing site. Construction work began but soon stopped.

Other Chassidim gossiped that Satmar had run out of money due to the worldwide economy crisis and was thus forced to interrupt the project. I wrote an article on the topic on "Vos is Neias" and was, as expected, criticized. It would have been the Zionist's fault that construction had stopped. However, let me tell you one thing: If the former mayor had really stopped the Satmar project, who would have gone wild and organized wild demonstrations against the Zionists ? But nothing ever happened !

Now I read a comment on an Israeli haredi forum that the project is bancrupt. The people in charge  owe 13 million Shekels to the bank. The latest idea is to sell the planned apartments for 430,000 dollar instead of 200,000 dollar.

The buyers are young Satmarer families and they are upset, as they find themselves unable paying the much higher price. It says that those families are going to sue the project organizers.

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