Kiryat Atidim, which manages the Kiryat Atidim High-Tech and Business Park in northeast Tel Aviv, is planning to build two additional office towers in the park, for a total investment of NIS 430 million.
Kiryat Atidim is currently marketing "Atidim Tower", formerly called "Vision Tower". The tower has 35 floors and 70,000 square meters available for offices, that sit above two commercial floors of 3,000 square meters and a 52,000 square meter underground parking lot. Vision Tower's total area is 125,000 square meters.
Kiryat Atidim Park, which is spread over 90 dunam (about 22 acres), is jointly owned by the Tel Aviv Municipality (50%) and Tel Aviv University (50%). The first of the new towers that Atidim is planning to build will be 25 storeys high. It will have offices above the five-story, 36,000 square meter underground parking lot, and 1,000 stores. The tower will sit on a 7.5 dunam (1.8 acre) plot and will have 76,000 square meters of office space. The building cost is estimated at NIS 240 million.
The second tower will be built on a 7 dunam (1.7 acre) plot, will be 17 storeys high, and will have 63,000 square meters of space, including the parking lot. The building cost for the second tower will be NIS 190 million. Kiryat Atidim CEO Elka Ilani said that including the two new towers, Kiryat Atidim will house 400,000 square meters of office space, making it the largest business park in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2011
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