Aviv & Co. is going against the trend of luxury residential construction and will build a new luxury office tower in Tel Aviv: the Aviv Rothschild Center on Rothschild Boulevard in Tel Aviv.
"This is going to be the only new office tower on Rothschild Boulevard, and we have an advantage because everyone else has been building residences in recent years," Aviv & Co. CEO Dafna Harlev said today at the project's unveiling. "Today, large companies which need large spaces in Tel Aviv, can't find them."
The project will cost more than NIS 240 million. Aviv & Co. bought the lot, known as the Zim lot, at 22 Rothschild Boulevard for NIS 100 million from Arcadi Gaydamak two years ago. The lot is at the southern end of the street, in the Tel Aviv City financial district.
The Aviv Rothschild Center will have 24,000 square meters of built-up space on 29 floors. The entrance façade will be linked by an 20-meter high atrium to Bachar House, a building slated for preservation, which Aviv & Co. owns.
Aviv & Co. also unveiled a 58,000-square meter 40-storey office building planned near the Diamond Exchange in Ramat Gan. Aviv & Co. chairman Doron Aviv said, "This project is in the initial stages."
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2010
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