Phoenix only bidder for 15-acre lot in Rishon's Eleph district

Rishon Lezion Elef district  / Photo: PR
Rishon Lezion Elef district / Photo: PR

Phoenix bid NIS 338 million for a lot with 60,400 square meters of space.

The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) has submitted a bid to buy a lot with 60,400 square meters of space in the northern part of the Eleph district in Rishon Lezion. Phoenix's bid was the only one for the lot, but its winning of the tender still requires approval from the tenders committee, which is scheduled to discuss the matter in the coming weeks.

The Eleph site in northern Rishon Lezion is one of the leading business districts being marketed in Israel at the present time. Plans for site include 1.75 million square meters of office and commercial space, 5,400 housing units, and 110 dunam (27.5 acres) of parks. Half of the land reserves on the site belong to the Rishon Lezion municipality and half to private landowners. It is estimated that 100,000 people will work on the site and over 22,000 will live there.

The lot in the tender in which Phoenix bid (lot 5030) has construction rights for a number of buildings and a business and commercial zone with 355,570 square meters of built-up space (not including 225,555 square meters of underground service space). The minimum price set for the tender is NIS 310 million.

The Rishon Lezion municipality said that including this tender, over half of the space had been successfully marketed. The remaining lots will be marketed later. It is believed that technology companies and concerns will join the many parties expressing interest in moving to the Eleph site.

Rishon Lezion Mayor Raz Raz Kinstlich said in response, "The business sector is expressing great confidence in Rishon Lezion. The site's transportation access, combined with the geographic location and efficient and rapid public transportation, on which we are working constantly, will make the site extremely attractive in Israel, an advanced model for a mixture of uses from which the workers living on the Eleph site will benefit. 100,000 jobs that will be added will provide employment to all residents of the city, who will be able to work close to home and significantly improve their quality of life."

Adi Brook, CEO of the Eleph site, said, "The great interest in the tenders, combined with the large-scale public exposure to the site and its uniqueness, are proving themselves, and illustrate the great confidence in the Eleph site and recognition of its potential. At the same time, I am glad that the municipal concept and backing for the measures carefully planned by the administration are showing results. We will continue to emphasize innovation, accessibility, and mixed uses, which will have positive results for Rishon Lezion, Israel's new metropolis."

A number of large groups recently won a number of tenders in nearby lots with 320,000 square meters in total space. The winners included the Discount Group, with Israel Discount Bank, ICC-Cal, and Mercantile Discount Bank; Prashkovsky Investments and Construction; Amot Investments; Rogovin; and Jtlv2.

Published by Globes, Israel business news - en.globes.co.il - on December 17, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Rishon Lezion Elef district  / Photo: PR
Rishon Lezion Elef district / Photo: PR
Inflation  credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft  credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen  credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia  credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018