Latest News

New Al-Reehan housing development a vote of confidence in the future of Palestine

Quartet Representative Tony Blair today praised the new Al-Reehan housing project and development today as “a vote of confidence in the future of Palestine and the future of the people.”

Located near Ramallah, the neighbourhood will provide 2,000 homes for 10,000 Palestinians. The project is managed by Al-Reehan Real Estate Investment Company, a wholly owned subsidiary of the Palestine Investment Fund, which provided a $200m investment in the scheme.

Mr Blair was accompanied on the visit by the Governor of Ramallah and Al-Bireh, Dr Laila Ghannam, who took up her post at the beginning of the year and is the first Palestinian woman to serve as a governor. They also met with local security chiefs to discuss the work of the Palestinian security forces.
 
Quartet Representative Tony Blair said: “I would like to say to the governor and the mayor and everybody engaged with this project my congratulations for all the work that they are doing.

“What we see here is an incredible development, which shows what the Palestinian people and the Palestinian Authority are capable of; even amongst all the challenges that they have they are determined to make their country move forward, and to give their people a better hope for the future.

“This investment here is a big vote of confidence in the future of Palestine and the future of the people and the fact that the development is happening, the fact that they are managing to sell already many of the homes here is a great tribute to everybody concerned.”

Commenting on the security reforms there have been in the area, Mr Blair said: “I’ve also had a chance to today to talk to the governor about the work that the security services are doing here and how much better and improved that situation is, but she has also been pointing out to me the challenges and difficulties in this situation” such as the jurisdictional issues that come with the divisions between Area A, B and C on the West Bank.
 
Tony Blair concluded: “I am more than ever convinced that we will never have a successful political negotiation unless the reality on the ground for the lives of people in Palestine changes and supports that political negotiation, so today I’ve seen the good and the bad. The good gives us hope, and the bad gives us work to do.”

On 29 June 2009, the cornerstone of Al-Reehan was placed by Palestinian President Mahmoud Abbas. Al-Reehan Real Estate Investment Company has commenced the construction of houses and apartment blocks, which should be completed within 18 months.

In August 2009, Al-Reehan made the first housing units available for purchase and dozens were sold within weeks. Sales for the remainder of the current phase began on 15 March 2009.