Kiryat HaYovel was established in the 1952 to house thousands of Jews Immigrants from Arab countries. In the early days it was a tent city, as public housing projects, called shikunim, were hastily built to accommodate them.
Kiryat HaYovel was built on the land of the Palestinian village Beit Mazmil that was occupied during the Nakba of 1948.
At the begining the name of the settlement was Beit Mazmil, and was renamed to Kiryat Hayovel (Jubilee Town) to commemorate the fiftieth anniversary of the Jewish National Fund.
The need for housing was so urgent that a British mandatory ordinance requiring that all buildings in Jerusalem be faced with Jerusalem stone was waived in Kiryat Hayovel. Functional architecture, with flat roofs, stucco facades and no ornamentation, was characteristic of early construction in the neighborhood, and many examples remain until today.