Report to the ... Zionist Congress and to the Council of the Jewish Agency in ... · 1935-08-01 · 8.1935 · p. Seite 184

E.—REPORT OF THE PALESTINE LAND DEVELOPMENT COMPANY, LTD. (1933-1934). (1) In the last two years the Company succeeded in disposing of almost all its urban land in Jerusalem and Haifa, property which had occupied it for a period of fifteen to eighteen years and which had demanded its continual attention. In Jerusalem the areas were those acquired from the Greek Orthodox Patriarchate in 1921, on which new Jewish quarters have been created, viz., those in the vicinity of the Ben Yehuda Street and King George Avenue, the Rehaviah residential quarter, the new Business Centre, and various areas acquired from other sources. These lands were sold for about £P. 500,000/showing a profit of £P. 23,000 for a period of fourteen years (about 4.6 per cent.). At Haifa there was land on Mt. Carmel, the purchase of which was begun in 1918, and which was sold for £P. 228,000, at a profit of £P. 10,000 for a period of nearly seventeen years (about 4.4 per cent.). Together with the sale of various areas in the vicinity of the Business Centre at Haifa for the sum of £P. 175,000, a sale which had been protracted for about fourteen years, the total sum received for these lands over a period of fifteen to eighteen years amounted to about £P. 901,620, and the profit realised therefrom was about £P. 66,398 (an average of 7.36 per cent.). In the previous years, so long as these areas had not been entirely disposed of, the Company cautiously refrained from carrying over the profits derived from these partial sales to the definite profit and loss account. But, as during the last two years the lands have been practically all sold, and the market price has risen considerably, the whole accumulated profits have appeared in the Balance Sheets for the period under review. The following table shows the sale of the lands of the Company in the last two years : 1933 1934 Total. Dunams. £P. Dunams. £P. Dunams. £P. Agricultural : Agricultural : Agricultural : 8,800 24,000 28,200 183,700 37,000 207,700 Sq. metres. £P. Sq. metres. £P. Sq. metres. £P. Jerusalem : 80,901 72,742 67,056 37,257 147,957 109,999 Haifa : 609,395 66,433 646,241 161,371 1,255,636 227,804 Tel-Aviv-Jaffa : 94,708 5,155 53,579 4,038 148,287 9,193 785,004 144,330 766,876 202,666 1,551,880 346,996 In all 37,000 dunams of agricultural and 1,551,880 sq. m. urban land for £P.554,696. r:'. 184