Construction on Tel Aviv's Kikar Hamedina starts in 4 months

Kikar Hamedina project Photo: Moore Yaski Sivan

The Tel Aviv Local Planning and Building Commission has issued a permit for excavation work for three 40-floor towers.

The Tel Aviv Local Planning and Building Commission has issued a building permit for excavation and revetment in the Kikar Hamedina project. The landowners have published a tender for contractors to do the excavation work, with the aim of having the work start in April 2019. The project, designed by the Moore Yaski Sivan architectural firm, will consist of 453 apartments in three 40-story towers. Construction will cost an estimated NIS 1.2 billion.

Representatives of 93% of the landowners, led by Dan Goldschmidt and Rafi Ben Yaakov, filed the request for a building permit, based on an agreement signed by the representative with the Tel Aviv municipality that states that each side will pay for its share of the work costs according to its proportion of ownership in the land.

The excavation and revetment permit is for a depth of 14 meters. Three underground parking levels will be built at an estimated cost of NIS 50 million. 28 trees in Kikar Hamedina marked for preservation, most of them ficus trees, will be uprooted and replanted around the project. Preparatory work for moving the trees began recently.

The permit brings to an end a decades-long dispute over Kikar Hamedina, with plans being changed a number of times and numerous disputes among the landowners and between them and the Tel Aviv municipality.

Published by Globes, Israel business news - en.globes.co.il - on December 30, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Kikar Hamedina project Photo: Moore Yaski Sivan
Kikar Hamedina project Photo: Moore Yaski Sivan
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