Shikun & Binui 4,000-home project in Ramat Gan approved

The Tel Aviv District Planning and Building Committee has approved for objections the construction of 4,000 housing units in Ramat Gan by Shikun and Binui Holdings Ltd. (TASE: SKBN), which is controlled by Naty Saidoff. The plan relates to 78.75 acres in northeast Ramat Gan near the Messubim Interchange and south of the Ramat Efal neighborhood.

The plan includes 2,500 apartments in low and high-rise buildings, as well as 900 specially designated apartment including 380 affordable homes. In the southwest of the neighborhood will be 270,000 square meters of offices and commercial premises, which is in addition to an adjacent office park on Road 461, which has already been approved.

The outline plan has been designed by Opher Kolker of the Kolker Kolker Epstein architects firm.

The new neighborhood and industrial park and commercial premises is part of the transformation of Road 461, which stretches from the Kibbutz Galuyot Interchange in Tel Aviv to the Tayasim Junction near Yehud, into a major metropolitan thoroughfare.

Shikun & Binui 4,000-home project in Ramat Gan approved

The new neighborhood in northeast Ramat Gan will be north of the Messubim Interchange.