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Israel offers to buy Jerusalem properties from foreign buyers

Israel is offering to buy the homes of international property consultants for an undisclosed amount, the newspaper said Sunday, citing unnamed sources.

The Israeli government is planning to purchase three Israeli-made luxury villas and a hotel, including a five-star resort, as part of a massive overhaul of the city’s infrastructure and housing sector, a source told The Jerusalem Times.

The government plans to build five million housing units by 2020.

Israel has not released details about the offer.

A spokesman for the prime minister’s office declined to comment.

The Times said it has been told the offer would be confidential.

The offer is being made for the villas of a local Israeli developer, and not for the buildings in the city itself.

The villas, which are in the western part of the West Bank city, are being built in collaboration with a local developer and will be connected to the new housing.

The proposal is one of several in recent years by Israel to purchase properties for its infrastructure.

In 2015, it bought a 767-meter (2,819-foot) yacht in the Mediterranean for an estimated $4.2 billion.