The Ramat Gan Local Planning and Building Commission last week approved construction of the tallest tower in Israel - 120 storeys, plus two additional skyscrapers in the Ramat Gan Diamond Exchange district.
The plan applies to land owned by the Diamond Exchange between the current Diamond Exchange site and the Savidor railway station in Tel Aviv. The plan is to expand the Diamond Exchange beyond the three towers. The previous plan for expanding the Diamond Exchange included two new towers, one of which was to have been 111 storeys high.
After being elected, Ramat Gan Mayor Carmel Shama Hacohen decided to expand the plan by building three new towers instead of two, make the biggest tower 120 storeys instead of 111 storeys, and the other two towers 88 storeys and 77 storeys. Some of the office space will also be used for the Diamond Exchange, and part will be let to other businesses.
Diamond Exchange president Yoram Dvash said, "Israel is one of the world's four largest centers for diamond trading. Over 10,000 business owners and employees pass through the Diamond Exchange buildings daily, and the number is projected to grow with construction of the new polishing enterprises planned in the Diamond Exchange compound. The diamond traders need the Diamond Exchange's strict security arrangements, the best in the world of their kind, and prefer to make their deals in one large business area that contains all of the services they need."
Hacohen said, "The new compound will contain Israel's tallest tower, which will be the gateway to Ramat Gan."
The biggest new tower will be Israel's largest, outstripping the planned 100-floor Bein Arim Tower, to the south on the border of Ramat Gan, Tel Aviv and Givatayim. The plan requires approval by the Tel Aviv District Planning and Building Commission, which will decide whether to deposit it for public objections.
Published by Globes, Israel business news - en.globes.co.il - on April 7, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019