Electra Ltd will be working with Bar-Ilan University to renovate the old dormitories and build new ones.
This project includes the construction of a service center and will cost about 350 million shekel with a projected revenue of 36 million a year. The project will be built using DBOT- the highest bidder, Electra Ltd, will manage the buildings for 25 years. After 25 years, management and ownership of the dormitories will be transferred to the university.
Construction will last about 39 months and the new dormitories will be built on the north end of campus. There will be two dormitories each with 10 floors, studios will be available and 2-4 bedroom apartments for couples and families totaling 1060 beds. The existing dormitories on campus which hold 400 rooms and 550 beds will be renovated. In the area of the dormitories there will be a service center with a supermarket, bank, classrooms, and a clinic.