Tel Aviv to get 3 more skyscrapers

One building is on the Lieber compound, the second on Rothschild Blvd., and the third on Hamasger St. in the commercial district.

Tel Aviv will get three more skyscrapers: one on the Lieber compound on the border of the southern neighborhoods of Florentin and Neve Tzedek; the second on Rothschild Boulevard; and the third on Hamasger Street in the commercial district.

The National Planning and Building Commission yesterday dismissed a petition by the Tel Aviv Local Planning and Building Commission against the request by Intercolony Investments Ltd. (formerly American Colony) to rezone the Lieber lot to mixed residential, commercial and industrial use, including 150 apartments.

Tel Aviv Local Planning and Building Commission Doron Sapir said, "It's a shame that the National Planning Commission chose to reject the Local Commission's appeal. To accept residences as use on a mass-transit route is a waste of public money."

Yesterday, the Tel Aviv Regional Planning and Building Commission approved the Aviv on Rothschild project of Aviv & Co., and increased the building's height to 30 floors from 21.

The Tel Aviv Regional Planning and Building Commission also accepted for deposit for the 20-storey Beit Ozeri project by Achim Ozeri Ltd. The project is planned as a green building.

Source Globe

Spotlight: Hip and historical Neve Tzedek

Meier on Rothschild competing with White City Residence

Tel Aviv's skyline continues to grow higher. The Tel Aviv Local Planning and Building Commission allowed yesterday the adding of floors to the Meier on Rothschild luxury residential skyscraper for a total of 37 floors. The building is owned by Berggruen Residential Ltd itself owned by Nicolas Berggruen and his partners Hagag and Cohen.

The approval brings Meier on Rothschild almost to the height of the Neve Tzedek by the Sea skyscraper, which is being built by Eurocom Global Real Estate Ltd and ZMH Hammerman Ltd. In January Tel Aviv Local Planning and Building Commission allowed the adding of ten floors to this project, bringing it to 40 floors.

However, the planning commission rejected Berggruen's request to add 16 floors to an office building.

Meier on Rothschild will cost an estimated NIS 200 million to build. The building permit issued in August 2009 allows 92 apartments on 27 floors, although the blueprint was for 32 floors above the ground floor and basement. This has now been increased to 37 floors.

Source Globes

Manor family investing in Hammerman

The Manor family, which owns a controlling interest in the David Lubinsky import company that brings Peugeot and Citroen cars to Israel, is investing in the construction company ZMH Hammerman.

The Manors will be putting in NIS 30 million in exchange for 27.3% of the company's stock. The transaction values ZMH Hammerman at NIS 110 million.

Proposals for new tayelet of Tel Aviv

For a translation of the slides click here.

Flat sold at a price approaching those in London...

Shari Arison, chair of Arison Group, has bought an apartment in the "King David" building on Tel Aviv's Hayarkon Street. Arison paid NIS 16.6 million (USD 4.3 million) for the renovated, furnished 190 square-meter apartment on the sixth floor of the building. The price translates to NIS 87,000 per square meter, among the highest prices recorded in the residential real estate market recently. That converts to $23,000 per square meter, a price similar to what people pay for prime location in London!

The deal was signed a month and a half ago. The building, next to the Dan Hotel, was built in the 1990s by a group of developers headed by the Federman family. Its closeness to the sea, the attractiveness of Hayarkon Street, and the low supply of apartments there, have made it one of the most sought after apartment buildings in the city.

About four years ago, when she was still married to Ofer Glazer, Arison bought a triplex apartment in the G Tower project on Ibn Gvirol Street in Tel Aviv for NIS 55 million. The tower is currently under construction. Arison also owns a house in Moshav Bnei Zion in the Sharon, but most of the time lives in an apartment in the Bavli neighborhood of Tel Aviv.

Source Globes