The Israel Lands Authority (ILA), the government body charged with public land management, announced on Monday - Jerusalem Day - the opening of bids for construction companies to take charge of the development of the Lifta neighborhood in Jerusalem.
The development plan, once signed, will be in effect for 98 years, with the ability to extend the deal at a later point.
The winner of the bid will be responsible for initial construction costs, such as water and plumbing.
In 2017, Lifta was declared a national nature reserve by Israel.
In 2010, Ynet noted, a bid was published by the ILA, but faced opposition from various organizations, including Rabbis for Human Rights, a body of rabbis focused on Israeli and Palestinian human rights.
Yakoub Odeh, 81, was eight-years-old when the town was abandoned, and expressed the anger felt by others: "We are in pain and in shock... This decision is illegal," he told Ynet.
"Mazal tov Jerusalem!" Former-Jerusalem Municipality councilmember Yair Gabbai announced on his Facebook page on Monday.
"After years of delays the ILA published a public bid notice for rebuilding the new neighborhood in Lifta."
Gabbai added that a synagogue will be added to the neighborhood as well, writing that "it is exciting and symbolic that this is taking place on Jerusalem Day."
The tender brochure will be published in detail on July 4, 2021.