Sources inform ''Globes'' that a huge 45-storey hotel is slated to be built on the Ganei Sharona lot of the South Kirya lot in Tel Aviv. The Israel Land Administration (ILA) will put the six-dunam (1.5-acre) lot on the market for NIS 55 million next month.
The lot is an integral part of the Ganei Sarona commercial, entertainment, and recreation project won by two consortia of developers in an ILA tender last year. Plans for the lot allow for a 40,000-square meter, 800-room hotel and 2,000 square meters of commercial space.
The minimum price for the lot is reportedly NIS 35 million, plus NIS 20 million in development costs. The Ganei Sarona area is south of Kaplan Street, along Tel Aviv's main business axis. Adjacent to the lot zoned for the hotel is a second lot, for which the ILA will also shortly hold a tender. The lot is zoned for 90,000 square meters of commercial and office space.
Six Templar buildings slated for preservation in the area will be kept by the Tel Aviv Municipality for public uses. Three of the buildings have been leased to the Technion Israel Institute of Technology for an MA program in architecture and preservation.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2010
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