Optimistic Outlook for M/E Engineering Opportunities in Israel
Israel is among other centers of rapid growth and construction activity in the Persian Gulf.
“The high-tech industry in Israel is amazing with a very high level of expertise and technical ability,” explained Kfir Godrich, principal, director of technological development, EYP Mission Critical Facilities, New York.
One of Israel’s most significant construction projects is Intel’s multi-billion dollar construction of a wafer fabrication plant, anticipated to be the biggest and fastest in the world.
In addition, Donald Trump has been showing interest with plans to build a $500 million hotel complex on the shores of Netanya and a 70-story residential tower in Ramat Gan, neighboring Tel Aviv—anticipated to be the tallest building in Israel.
In general, the building and construction market has been up for the past couple of years, following a several-year recession, with the defense, semiconductor, pharmaceutical and petrochemical industries leading the way, according to Emanuel Marynko, general manager of the Tel Aviv-based Yani, Israel’s largest electrical engineering firm.
Although it’s difficult to pinpoint the country’s exact volume of defense work as the information is classified, a significant portion of Israel’s $10 billion annual defense budget goes toward building and construction, Godrich said.
In any case, design and building opportunities are numerous as he said, “There’s no doubt about it that there is a lot to do in Israel for American companies.”
Marynko added, “There especially are opportunities for overseas firms on projects where the Israeli market may not have as much expertise.”
As far as the market outlook in general, Marynko predicted, “I think it will continue to speed up.”