Gav Yam, Bayside Land Corporation will invest $60 million to build four buildings with a total of 45,000 sq.m. at the entrance to the Holon industrial zone. The project is going ahead following its approval by the regional planning and building committee. This is Holon’s largest high-tech project, and one of the largest in the center of the country.
The project will be built on a 15 dunam (3.75 acre) plot, which the company has owned for several years. Bayside Land Corporation, which is managed by Hanan Nitzan, will build a 23-story high-rise, with three adjacent 5-8-story buildings. The four buildings will have a total of 38,000 sq.m. for high-tech and 7,000 sq.m. commercial space on the ground floor. There will also be a 45,000 sq.m. underground parking lot with 1,400 places. The architect is Avner Yashar.
Gav Yam, Bayside Land Corporation will build the project in stages. The buildings are entirely designated for leasing. It is estimated that it is currently possible to lease high-tech space in the area for $10-12 per sq.m. per month, index-linked, and commercial space for $25 per sq.m. per month.
Nitsba real estate agency is scheduled to build 25,000 sq.m. for high-tech on an adjacent plot. The realization of Nitsba’s project will help convert the Holon industrial zone into a high-tech center.
Published by Israel's Business Arena on 19 November 2000