The skyscraper fever now sweeping Tel Aviv is now heading south to neighboring Bat Yam. Last week, an executive committee, consisting of the mayor of Bat Yam, the chief executive, and a select group of council members, approved the building by the The Mizrahi Group of the City Center project, comprising three skyscrapers, the tallest of which is 50-storeys (160 meters) high. The Bat Yam has forwarded the plan to the Central Regional Planning and Building Commission for approval.
The towers in the City Center complex will consist of two buildings with 324 apartments in 38 floors and a third 50-floor block with 50,000 square meters of space for commerce, offices, and roof observatory. Also included in the plans is a two-storey shopping mall at the project's entrance. Total sales from the project are expected to be just short of the NIS 1 billion mark, at NIS 950 million.
The 50-floor building will be the second tallest in Israel, (at present), after the 68-floor, 244 meter-high Moshe Tower in Ramat Gan, and the fifth highest in terms of floors after the 49-floor, 187-meter high Azrieli Circular Tower, the 37-floor, 170-meter high Sheraton City Tower, and the 42-floor, 169-meter high Azrieli Triangular Tower. When completed, the new building will displace the current fifth-placed building, the 42-floor, 158-meter high Yovel Tower in the government complex in Tel Aviv.
Azorim Investment, Development and Construction (TASE: AZRM) and a group of diamond traders are planning to build a 70-floor tower block at the Elite Junction. The building, which will consist primarily of residential properties plus a small number of office properties, will be completed in 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2008
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