The company, which already rents 11,000 sq.m. in the Eliahu Yitzhaki Building, has rented 6,000 sq.m. from Ra’anana High-Tech Park, and will occupy an additional 6,000 sq.m. in 2007.
SAP Labs Israel, a development unit of SAP (NYSE; LSE:SAP; XETRA:SAPG), is expanding its activities and premises in Ra’anana. The company, which currently rents 11,000 sq.m. for its development center in the Eliahu Yitzhaki Building in Ra’anana, will rent 6,000 sq.m. in an adjacent building to be built by Eliahu Yitzhaki, and occupy the new premises during the third quarter of 2007, under a five-year lease.
In addition, SAP Labs Israel has rented 6,000 sq.m. in a third building above a commercial center from Ra’anana High-Tech Park, jointly owned by the Ganden group and Electra Ltd. (TASE: ELTR).
SAP Labs Israel currently has 750 employees.
Published by Globes [online], Israel business news - www.globes.co.il - on January 29, 2006