Plans approved for Israel's tallest building

Shaul Elovitch's Eurocom Real Estate plans building a 70-storey skyscraper in Givatayim near Tel Aviv.

The Tel Aviv Regional Planning and Building Commission has approved for deposit a plan to build Israel's highest skyscraper, after a hearing for objections to it. Eurocom Global Real Estate Ltd. (TASE: EGRE), controlled by Shaul Elovitch and Yair Weil, wants to build a 70-storey skyscraper in Givatayim.

Israel's tallest skyscraper is the 84,000-square meter 69-storey Moshe Aviv Tower in the Ramat Gan Diamond Exchange.

EGRE deposited the plan for its skyscraper for objections two years ago. The project's original cost estimate was NIS 1 billion and construction time was estimated at five years.

The skyscraper is planned to have a 3,000-6,000 square meter convention center, and 3,000 square meters for the Givatayim Municipality. The skyscraper will be near the Tel Aviv Central Railway Station on Arlozorov Street, a stop on the planned light railway line, and close to the Ramat Gan Diamond Exchange.

Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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