5 years later Tel Aviv promenade upgrade finalized

Started more than 5 years ago, the renovation of the Tayelet in Tel Aviv has now finally reached the southern part of the city, across from the Royal Beach hotel. With the removal of  the old Dolphinarium having finally started last month, it's now a question of months until the promenade upgrade is now fully completed, allowing tourists and residents alike to stroll along the sea from Bat Yam all the way to Herzliya.

Since its inception in the late 1930’s, the central promenade of Tel Aviv played a key role in establishing the ever-changing connection between the city and its shore. In all of the various phases of its life, whether the modest walkway of the 1930’s, the neglected site of the 1960’s, or the renovated version of the 1980’s, the elevated boardwalk acted as a border that blocked the natural pedestrian flow between the city and its beach. The renovation project aimed to transform this historical blockade by creating a new continuous interface that enables free pedestrian flow to and from the sandy beach, throughout the city’s central waterfront. Moreover, serving as the main waterfront public space of the entire metropolitan area, the new promenade and its sitting-terraces was designed to offer a generous array of seats and relaxation opportunities along the seafront, in order to host great many new visitors, and create a hospitable and lively public domain for this large dense urban area.

Leon tower to join Isrotel group

Leon Tower, the tower being built right next the Sea One, hosting the Royal Beach hotel will allow Isrotel to add another 234 rooms on Tel Aviv seafront. It is scheduled to be finished by 2021.

Isrotel Ltd. has notified the Tel Aviv Stock Exchange that it has leased the building which is still under construction on Tel Aviv seafront their other property, the Royal Beach hotel.

The new hotel will be part of Isrotel's Exclusive Collection, which includes the Tel Aviv Royal Beach and the Jerusalem Orient Hotel opened last year. The new 5* hotel will have 234 rooms and suites, swimming pool and spa and a 1,000 square meter conference center.

The new hotel, which is due to be completed by 2021, has been leased for 15 years with an option to extend by another 10 years. Isrotel has undertaken to pay a minimum annual rental fee (linked to the CPI) or a percentage of the annual turnover of the hotel - whichever is higher.

French hotel family buys Sea One tower

Electra Real Estate Ltd. and Oranim Ltd. have closed the sale of the Sea One high-rise project on Tel Aviv's seafront to the French Amouyal family, which operates hotels including the Meridien in Eilat, for NIS 370 million.

They paid the buyer NIS 16 million in compensation for transaction costs, which Electra Real Estate will report in its financial statement. The two companies owned the project on Hayarkon Street in equal shares. Electra Real Estate will report NIS 98 million in cash flow from the sale, NIS 88 million of which it will use to repay the seller's loan it gave the buyer.

New Sea One's Royal Beach ups the ante in Tel Aviv

The Royal Beach Tel Aviv, a new hotel in Tel Aviv, opened its doors in May. Located on the beachfront by the famous promenade, it is just a leisurely stroll from the city’s major entertainment and dining destinations. But if you are staying at the Royal Beach, you will no doubt be inclined to remain in the vicinity of this luxury hotel. Part of the prestigious Isrotel Exclusive Collection, which includes the Royal Beach Eilat, the Carmel Forest Spa Resort and the Beresheet desert resort, this new hotel offers a wide range of rooms and services for different needs. The various rooms and suites types are tailored to suit the diverse needs and desires of guests who visit the big city, be they businesspeople, honeymooners or vacationing families.

None of the rooms are small, ranging from 28 to 95 square meters. The spacious rooms and suites all overlook the sea, and most have a balcony with a panoramic sea view. Guests are invited to sink into the comfortable balcony furniture and enjoy the gentle breeze and the captivating golden sunsets every evening. The hotel’s 230 rooms and suites are the creation of master international hotel designer Harald Klein, who has left his distinctive mark on urban hotels worldwide. Klein’s avant-garde hotel concepts draw together the delights and comforts of contemporary urban design, cutting-edge technologies and the desire to provide guests with warm hospitality and the experience of sheer luxury and relaxation. In a Klein design, even the smallest details, such as light fixtures, closets, desks and TV, are given full consideration, which makes all the difference.

Sea One vacation flat sold for $4.8m

A 190 sqm flat located on the 19th floor of the 23 stories Sea One sold recently for NIS 18.5 million, i.e. $4.8m. The fat is facing the sea and has two balconies totaling ​​25 square meters as well as two underground parking spots.

The Sea One is located near the shore of Tel Aviv, on a plot of four acres, between Hayarkon and Herbert Samuel. The building which is due to open its doors this spring will also be the home of a luxury hotel managed by Isrotel under the Royal Beach brand, a shopping area, a pool overlooking the sea and a public parking lot. The tower had made the news in 2009 when Russian oligarch Valery Kogan bought the penthouse for 110 million ($28 million) -- the most expensive flat ever sold in Israel at that time (the record has since been broken by Eyal Ofer).