Kfar Hittim an Exceptional Investment Hotel Opportunity
Kfar Hittim is situated near Tiberias, between the Sea of Galilee and the Arbel Cliff. Kfar Hittim is a moshav in the Northern District of Israel, has a great view overlooking the Galilee Sea. Kfar Hittim (lit village of wheat) lies near a famous battleground of the Third Crusade. In 1187, the Muslim warrior Saladin defeated the Crusader army in the Battle of Hittin, leading to the siege and defeat of the Crusaders who controlled Jerusalem. The twin hills and valley where the battle took place are known as Karnei Hittim (Horns of Hittin).
Kfar Hitim has an approved zoning plan (“taba“) of 110 dunams for uses of hotels and tourism to Kfar Hitim. The current opportunity is in the construction of a hotel and resort in the south zone that has 55 dunams. The Hotel Land includes building rights of 19,250 square meters, already being paid in the development agreement, and an allocation from the Ministry of Tourism of 750 hotel beds.
The cost of the land of the south zone stands for approx. USD 65,000 per dunam.
The taxes to be paid by the buyers are about 5% from the purchase cost.
Detailed planning can cost about USD 250,000.
Construction costs are different from one project to another but estimated for USD 100,000 for one hotel room and related central facilities, for a high class hotel.
There is 20% grant from the government.
The Investor should have adequate collateral to secure the commencement of the construction.