Google leases 20 floors in new Tel Aviv tower

Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects

Google will pay NIS 155 million annually for the space in the ToHa2 tower under construction by Amot and Bayside.

Income producing real estate companies Amot Investments Ltd. (TASE:AMOT) and Bayside Land Corp. Ltd. (Gav Yam) (TASE:BYSD1), which are currently constructing the ToHa2 tower in Tel Aviv, have officially announced the signing of an agreement with Google for the lease of 60,000 square meters in the tower for NIS 155 million annually. The agreement is for ten years. "Globes" first reported negotiations on the agreement in October 2022.

The ToHa2 tower is under construction overlooking the Ayalon Highway at the junction of Totzeret Ha’aretz Street, Yigal Alon Street, and Hashalom Road in Tel Aviv. It will be 300 meters high, with 77 floors, and extend over 170,000 square meters.

Amot Investments and Bayside Land Corp. are together investing NIS 3 billion in the project. The companies say that 40% of the skeleton work is complete, and that they expect approval for occupancy in 2026.

The agreement with Google is for ten years from January 2027. Google has a one-time escape clause from the agreement after five years.

According to information supplied by the companies in the past, each floor of the tower will be 2,500-3,000 square meters in area, which means that Google is leasing 20 floors.

Sources familiar with the matter say that Google considered two planned towers as its future home: ToHa2, and the Spiral Tower being constructed by Azrieli Group, but eventually decided on the former.

Google currently leases nine floors in the Ampa Tower (formerly the Electra Tower), not far from the ToHa2 site.

Published by Globes, Israel business news - en.globes.co.il - on June 25, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
Caesarstone kitchen credit: Caesarstone Caesarstone bucks Nasdaq as tariffs boost potential

The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.

ZIM ship credit: ZIM Trump's tariffs torpedo ZIM's share price

ZIM's share price fell 16.4% on Wall Street on Thursday and a further 7.2% on Friday, closing with a market cap of $1.5 billion, wiping out all its gains in 2025.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Holon, Rehovot, Kiryat Tivon, Shlomi and Beersheva.

THAAD anti missile system credit: The US Army Ralph Scott Wikimedia US deploys more THAAD, Patriot batteries in Israel - report

Amid rising regional tensions the US is bolstering Israel's air defense, Saudi state-owned TV channel Al Arabiya reports.

Tel Aviv Stock Exchange credit: Shutterstock TASE tumbles in Wall Street's wake

Dual-listed stocks have again been hard hit, but the banks are also down sharply.

Donald Trump and Benjamin Netanyahu credit: Avi Ohayon Netanyahu due in Washington to discuss tariffs

According to news website Axios, Prime Minister Benjamin Netanyahu will be the first leader to meet President Trump after the latter's announcement of sweeping import tariffs.

Yoni Assia CEO eToro Credit: PR eToro defers IPO amid market turmoil

The online trading platform had planned to begin meetings with investors this week.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Iranian flag credit: Shutterstock Why inflation haunts Iran

With a month-on-month increase of 3.3% and an annual rate of 37.1%, inflation reflects the struggles of millions of Iranians.

APM merges with lawyers from Doron, Tikotzky Kantor, Gutman credit: Eyal Merilos APM merges with 12 lawyers from Doron, Tikotzky Kantor, Gutman

With the addition of these 12 lawyers, Amit Pollak Matalon & Co. will now have 135 lawyers.

US President Donald Trump credit: Reuters Sipa USA Israel on list as Trump unveils tariffs

Relatively low reciprocal tariffs will be imposed on Israeli goods sold in the US.

Deflated unicorn credit: Shutterstock Big Tech 50 reports more huge falls in startup valuations

Israeli R&D partnership Big Tech 50 reports that an investment of $2 million in Orcam made in 2021, shrank to just $31,000 at the end of 2024.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018