Sources inform ''Globes'' that Hebrew daily "Yediot Ahronot" plans to build offices at the site of its printing house in Rishon LeZion, in order to merge the desks of the paper, its website "ynet", and its economic supplement "Calcalist". Industry sources estimate the cost of the building at NIS 90-110 million.

In July, it was reported that "Yediot Ahronot" was preparing to fire scores of journalists, including from "ynet" and "Calcalist", and that cost-cutting measures would include moving all the newspaper's desks to a single premises in Rishon LeZion.

The sources say that "Yediot Ahronot" plans to build a 20,000-22,000-square meter building on the site of the paper's printing house. The sources added that, notwithstanding the newspaper's plan to build new premises on the lot, it had not yet submitted a detailed building plan or applied for a building permit.

"Yediot Ahronot" is currently based in the Yediot Ahronot Building at the corner of Menachem Begin Road and Mozes Street in Tel Aviv, near the Azrieli Towers, "Calcalist" is based in the Kikar Project Building on Habarzel Street in Tel Aviv's Ramat Hahayal neighborhood, and "ynet" is in at Kidmat Ayalon Building on Kreminitzky Street in Tel Aviv.

There is a building plan for the Yediot Ahronot Building for a 53-storey tower, as part of the Tel Aviv North Main Business Center plan. Under the architectural design for the plan, which the Tel Aviv Local Planning and Building Commission approved in 2011, the present building on the lot will be demolished, and will be replaced by a tower with 31,000 square meters of office space and 9,172 square meters of residential space. The office space will occupy at least 20 floors of the building, from the 5th to the 24th floors, and the residential floors will beon the 26th and higher floors, which may also include hotel space.

Published by Globes [online], Israel business news - www.globes-online.com - on August 20, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012