Ramat Gan lot near Diamond Exchange sold for NIS 160m

Ramat Gan's Dafei Zahav lot Photo: Eyal Yitzhar

The seller of the Golden Pages lot is Aurec group, and the buyers are Acro Real Estate and Rogovin.

Acro Real Estate and Rogovin are cooperating for the first time. The two companies have acquired a lot at 19-23 Abba Hillel Silver Street in Ramat Gan near the Israel Diamond Exchange compound from the Aurec group, controlled by Morris Kahn, for NIS 160 million. Aurec holds two third of the lot, with the remaining third owned by private parties and the Ramat Gan municipality.

The 3.2-dunam (0.8-acre) site, which formerly housed the Golden Pages building, includes a parking lot and a number of old buildings leased to various tenants. There is a valid urban building plan for the lot for construction of an office tower with 40 storeys and 45,000 square meters of space, with commercial space on the ground floor and 350 parking places. Architect Moshe Zur is designing the building, which Acro and Rogovin will build.

The Ramat Gan municipality stands to receive 2,580 square meters of office space in the project.

Not far from the site, Rogovin and Tidhar Group are building the Sapir Tower on a seven-dunam (1.75-acre) lot at the corner of Tuval, Hayetzira, and Harakon Streets. This tower is in the advanced construction stages. Rogovin and Tidhar acquired the land in 2001 in a combination deal signed with 20 private landowners, and the Aviv group joined the deal later. The tower has 42,000 square meters of office and commercial space, 25,000 square meters of which is owned by the developer and 15,000 square meters by the landowners. The building also has 1,300 square meters of commercial space and 800 parking places.

As reported by "Globes" several months ago, on an adjacent lot at 17 Abba Hillel Silver Street, Tidhar will build an office tower with 20,000 square meters of space in a combination deal with the landowners.

Published by Globes [online], Israel Business News - www.globes-online.com - on December 31, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Ramat Gan's Dafei Zahav lot Photo: Eyal Yitzhar
Ramat Gan's Dafei Zahav lot Photo: Eyal Yitzhar
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