The Tel Aviv Regional Planning and Building Commission has approved for deposit the Givatayim City Plan, which will include Israel's tallest skyscraper, a 70-storey building with 84,000 square meters of main space.
Shaul Elovitch-controlled Eurocom Global Real Estate Ltd. (TASE: EGRE) won the Israel Land Administration (ILA) tender for the lot in early February. The lot is zoned for two mixed used buildings for offices, a hotel, residences, and commercial space.
The Givatayim City Plan covers a lot between Shefa Street and Aravei Nahal Street by the Arlozorov/Central Railroad Station entrance to the Ayalon Highway. The lot is located at the western entrance to the city on the border with Tel Aviv, and close to the Ramat Gan Diamond Exchange.
As part of the policy to increase building rights, the Tel Aviv Regional Planning Commission has allowed consolidation of the building rights to the 10-dunam (2.5-acre) lot, which will make possible construction of the skyscraper.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2010
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