Isratowers, owned by the Wasserman family in the US and the Shefer family in Israel, will construct business and commercial high-rises in Petah Tikva near the Rabin Medical Center (Beilinson Hospital) and the Ramat Siv industrial zone in the city. The project is called Global Towers.
The 19-dunam (4.75-acre) privately owned site is slated for construction of two office towers of 32 and 36 storeys that will contain a total of 105,000 sq.m. of office space and 8,000 sq.m. of commercial and leisure space on the ground floor.
Permits for the initial stages of digging and shoring and for building the parking lots have already been issued. Once these stages are completed, a request for permits to build the towers will be filed. The land was purchased in April 2016 for an estimated NIS 86 million. Company sources said that 13 floors in one of the towers have already been marketed at prices around NIS 8,000 per sq.m. Moore Yaski Sivan Architects, a leading architectural and urban planning firm, is responsible for designing the towers, which are slated for occupancy in March 2020.
A month ago, on the nearby Osem Investments Ltd. (controlled by Nestle SA (SWX:NESN)) site, BSR Europe (TASE: BSR), headed by Nachshon Kivity, which specializes in organizing buyers groups, announced construction of a commercial and business site at an investment of NIS 1.8 billion. The project, to be called BSR City, will contain NIS 160,000 sq.m. of offices in four 32-storey towers. The initial price per sq.m. in the buyers group is NIS 6,100.
Isratowers is trying to distinguish its building from the other office buildings in the area by labeling it a "smart building." "Tenants in the building will benefit from an app that will enable employees and business owners to communicate directly with the tower in which they are located through a mobile phone, tablet, or office computer. They can control the lighting, create smart licensing and security checks, take part in a social networking system of all the employees, and businesses on the site, and order meeting rooms, hosting services, maintenance, cleaning, security, support, and parking. They can summon guests to meetings, order the elevator, access public transportation timetables and smart rescue services in an emergency, and so forth," the company boasts.
Published by Globes [online], Israel Business News - www.globes-online.com - on January 25, 2017
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