Answer:
It was near the Mediterranean Sea, which made it attractive to merchants.
Step-by-step explanation:
The Mediterranean Sea connected the continent of Africa , Europe, and Asia. This mean that by controlling Canaan, a country could massively increase the amount of target market that they can pursue when selling their product. This will rapidly improve their wealth.
Because of this, Canaan had a long list of history of different empires fighting over the control of this territory (Such as the empires from Egypt, Sumer, Italy, etc)