Monday, March 27, 2017

New TLV Fashion Mall to open this month

Right next to Sarona the Gindi TLV Fashion Mall has just opened its doors. Built on the ruins of the wholesale market, the center contains most fashion brands, including H&M, Zara, Fox, Castro, Factor 54, Forever21, as well as several international brands opening their first shop in Israel, such as COS, Dior Boutique, Zara Home, Rag & Bone, Juicy Couture, or Adidas Originals. Another chain to open up in the mall is Super-Pharm, which just closed its store at the corner of Carlebach and Hahashmonaim. Only a subset of the 180 plus stores scheduled to open in the mall will be open on day 1. On the launching night, the company promised that over 100 stores would be open. The main attractions, such as the COS and Zara Home branches, will not be open on the launching night however; their opening is slated for early April.

The mall was originally scheduled to open in April 2015, but that was postponed several times. According to Gindi TLV CEO Mordi Shabat, the delay was not due to difficulty in finding tenants for the stores. "The late opening of some of the stores resulted from demands by the chains' headquarters overseas, some of them merchants doing business in Israel for the first time, and some of which are undergoing a change in concept," he said, adding, "the engineering complexity of the project, which is part of a complex composed of public centers, not just a shopping center, involves a very difficult engineering challenge, and led to two postponements of the opening date."

Sunday, March 12, 2017

Kahlon discovers the Laffer Curve

Home purchases in Israel by foreign residents fell to 2,241 homes in 2016, down 31% from 2015, according to figures provided by the Ministry of Finance. The sharpest fall was in Jerusalem where home purchases by foreign residents fell by 41% with a 25% fall in the Tel Aviv and Netanya regions. The fall in home purchases in Israel by foreign residents was far sharper than in the entire market and means that only 2% of homes now purchased in Israel are bought by foreign residents. The sharp fall was due not only to Minister of Finance Moshe Kahlon's actions, including raising the purchase tax from 5% to 8-10% on luxury apartments, in addition to the elimination of the exemption from betterment tax that took effect in 2014, but also the strengthening of the shekel, making it more expensive for foreign residents to buy homes.

There was not a single housing deal over NIS 50 million in 2016, whereas there were several such deals in the previous year and several deals worth more than NIS 100 million in 2014. In Jerusalem, only two luxury apartments (over NIS 10 million) were bought by foreign residents in 2016, down from 12 in 2015. Nevertheless, there was no shortage of major deals last year, with 19 of the 30 most expensive real estate deals last year in Tel Aviv.

Tuesday, January 17, 2017

New Shuk Rothschild Allenby is now open

Right underneath the Meier on Rothschild building, the new Shuk Rothschild Allenby just opened its doors.

Following hot on the heels of the Sarona Food Market and Shuk HaTzafon, the new Shuk brings some exotic and high quality food stores and restaurants in the south of Tel Aviv.

Whether you live in Tel Aviv all year round whether you're just a tourist visiting the White City, you need to go visit this new place for the following reasons:

1. The Location! It’s on the corner of Rothschild and Allenby, in Tel Aviv’s most up-and-coming area!

2. It’s open 7 days a week!

3. It’s open in the evening, a great place to stop and get some munchies after a long night on the town! Coming soon there’s going to be live music and shows.

4. Some of our old favourites are going to be there, including Bunny Chow (get a free drink with your meal with the Secret Tel Aviv VIP Card) and HaMalabiya.

5. Some cool new additions to the Tel Aviv street food scene, including Mexico City and Chipsea Kings (what an awesome name!).

6. Plus some cool fresh food shops, including Master Fish and a fruit and veg stand – great for shabbat shopping!

This part of town was already popular for the Shuk HaCarmel. This new addition that expands the available range of options is very welcome.

Source Secret Tel Aviv

Tuesday, December 20, 2016

Penthouses in White City Residence officially on sale

After a soft launch that lasted almost a year, penthouses in White City Residence are now officially on the market. One such penthouse (there are 7 of them) which has been put on sale for NIS 100m occupies 360 m² of the 29th floor and features a 120-m² terrace. That's more than $55,000 per square meter if you account for the terrace at 50% if its surface like it's the market practice.

It will be decorated and accessorised by the Armani studio. White City Residence is located on Yitzhak Elkhanan St. at the edge of the Neve Tzedek neighbourhood, adjacent to Rothschild Ave. Until several years ago, Yitzhak Elkhanan St. near the Carmel Market was considered a neglected area with a relatively low real estate value. But over the last decade, the face of the neighbourhood has changed to the point that it now boasts many luxury developments such as this 161-apartment project. In practice, most of the buyers purchased multiple apartments and connected them, therefore, the current number of apartments totals about 95.

Wednesday, December 14, 2016

Founders of Mobileye move into Meyer on Rostchild

Amnon Shashua chairman of the extraordinarily successful Mobileye company and Ziv Aviram, its CEO have snatched 2 extensive flats in the recently completed Meier on Rothschild.

Amnon spent NIS 80m ($21m) for the penthouse spanning floors 41 and 42 while his co-founder went so a more modest 300sqm flat on the 28th floor for just NIS 30m ($8m). The penthouse extends over 600 sqm, has 100 sqm of terraces overlooking the city and Mediterranean sea and has its own swimming pool and sauna.

In 2012, Eyal Waldman, the CEO of Mellanox had made the news after purchasing a flat on the 31th floor for NIS 19m ($5m). The founder of social gaming company Diwip, Yaniv Gamzo, also bought 2 flats in the tower, one that he rents and the other that he lives into.

You can check the view from the penthouse in the video below:

Source Calcalist

Wednesday, November 30, 2016

Dolphinarium: Surfers to replace dolphins...

After years of acrimonious battles, Dolphinarium deal seems finally underway.

The Appeals Commission from the Regional Planning Committee rejected earlier this month the appeal filed by the the various opponents to the project. Key to the success of the project, was the decision from the Tel Aviv Municipality to promote a plan designed by architects Zionov and Vitkon to build a sports center for surfers in place of the now derelict Dolphinarium.

Under the program, the abandoned complex, which covers over 21 acres of which 3,500 square meters are built, will be demolished and replaced by a small community center dedicated to sports activities. Total size will be around 750 square meters, of which 500 be dedicated to surfboards and equipment storage, offices, classrooms and changing rooms. The other 250 sqm will be used for a cafe or a restaurant. The rest of the area will be open to the public. The municipality reckons that it should take less than a year. But if history is any guide...

Source Timeout

Sunday, May 22, 2016

Neve Tzedek et l'invasion des Bobos

Interesting piece on public French TV channel France 2 on the invasion of French "Bobos"(bourgeois-bohème), those well-off French Jews leaning on the left and who have either emigrated to Israel or bought a place, just in case....

With almost 10 000 French Jews having moved to Israel last year and even more so having bought a place and now spending many months a year in the Holy Land, it's not surprising that the French influence can be witnessed all over the country.

But some neighbourhoods have been more affected than others and Neve Tzedek, because of its European character and charm, has been more popular than others with the French elite. It's no wonder then that property prices in Deauville have plummeted while those in those hip Israeli neighbourhoods like Neve Tzedek, called by some the "Petit Paris",  have soared....

Monday, April 4, 2016

Nakash brothers to build another hotel on the 'tayelet'

Just a month after having announced that they plan to turn part of the Opera tower into a boutique hotel, the Nakash brothers announced that they are part of a partnership that has purchased a plot one block away from Opera building.

And they intend to build there yet another sea front luxury hotel, right on the Herbert Samuel promenade, the famous Tel Aviv 'tayelet'.

Minrav Projects, controlled by Avraham Kuznitsky, and a company controlled by the Nakash brothers and real estate agent Raz Oded have signed an agreement to establish an equal partnership to acquire 75% of a plot on Hayarkon Street for NIS 97 million. The 12-dunam (three-acre) site, located between Herbert Samuel, Hayarkon, Geula, and Yona Hanavi streets, is owned by developer Gabi Elbaz, whose personal wealth totals NIS 145.5 million.

Elbaz will retain 25% of the plot. The lot includes 3,500 square meters in construction rights, and the companies plan to promote a new 7,500-square meter urban building plan that will include residences and hotels as part of a luxury project. Minrav is focusing on the residential part of the project, while the Nakash brothers will concentrate on the hotel part. The companies have also agreed with Mizrahi Tefahot Bank on finance for the project.

Thursday, March 31, 2016

3 bed home prices rose by 8% in 2015

The price of an average four-room apartment in Israel rose by 2.5% in the fourth quarter of 2015, and by 8% over the entire year, according to figures published today by the Ministry of Justice's Appraiser Tal Alderotti. These figures are in line with those recently published by both the Ministry of Construction and Housing and the Central Bureau of Statistics.

The Government Appraiser examines the price of four rom apartments in Israel's 16 largest cities. In examining 4,600 deals, the Appraiser found that prices rose most in Rishon Lezion (6%) and Rehovot (6%) in the fourth quarter of 2015, followed by Tel Aviv (5%). Prices rose least in Kfar Saba and Petah Tikva where they were unchanged. Prices rose by 3% in Jerusalem in the fourth quarter of 2015 and by 1% in Herzliya, Haifa, Netanya, and Modiin.

In all of 2015, prices rose most in Ashkelon and Beersheva (15%) and least in Jerusalem (2%). Prices rose 11% in Herzliya, 9% in Modiin, 6% in Haifa and 4% in Tel Aviv.

Tuesday, March 15, 2016

Israel gets award for innovative LGBT campaign

Israel's Tourism Ministry has been named the winner in an Expedia competition for innovative campaigns aimed at the LGBT community, a statement by the ministry said on Saturday. The prize was presented by Expedia, one of the leading online reservation sites in the world, to representatives from the Israel Tourism Ministry at the world's largest travel trade fair in Berlin.

According to the statement, Israel's Tourism Ministry worked with Expedia Media Solutions to make Tel Aviv an LGBT destination for clients from the UK and Italy. Expedia then created 140 exclusive deals aimed at that particular audience followed it up with strong campaigns aimed at promoting other Israeli destinations.

The campaign led to an increase in all target markets, including a 23 percent increase from clients in the UK. Israeli society is gay friendly, at least in the Tel Aviv area, and some of the legislation and precedent-setting court rulings on gay rights are groundbreaking. But the progress and prominence of the Israeli LGTB community runs counter to the religious underpinnings of Israeli society and clashes continuously with the dramatic march forward of LGBT rights in the West.