Intel seeks new Israel development center building


The company's representatives are looking for at least 30,000 sq.m. in Ra'anana or Hod Hasharon.

Intel is looking for a new property in the Sharon area, sources inform "Globes." Company representatives have recently met with real estate agents and contractors, and are looking for an existing property or one slated for construction of at least 30,000 sq.m. Sources also told "Globes" that as of now, the company's searches are focusing on Ra'anana and Hod Hasharon, but it cannot be ruled out that the company is also checking other cities in the Sharon area and whether it is possible to consolidate all the company's current Israeli development centers in one location. There are no plans, however, to move the company fab in Kiryat Gat.

Intel has several activity centers spread around Israel, and is apparently planning to concentrate its business in one place. It was only recently reported that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) had made such a move by purchasing land in the northeastern part of the Ra'anana industrial zone, to which it is planning to move all its centers currently spread among various locations. In Teva's case, the company bought land, and is planning to develop and build its headquarters by itself. Teva bought the 44-dunam (11-acre) lot from Toyota importer George Horesh, and is planning to construct a 50,000-sq.m. campus at the cost of NIS 500 million.

Published by Globes [online], Israel business news - - on July 7, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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