Electra to build two 40-floor towers in Tel Aviv's Sarona

Landmark Tel Aviv  / Imagin: PR

The Landmark Tel Aviv project is at the intersection of HaArba'a Street and Leonardo da Vinci Street.

AFI Properties (formerly Africa Israel Properties) and Melisron Ltd. (TASE: MLSR) have announced the signing of an agreement with Electra Construction Ltd. (TASE: ELTR) for construction of the NIS 715 million Landmark Tel Aviv project.

The project is located in the Sarona district at the intersection of HaArba'a Street and Leonardo da Vinci Street, close to the residential project being built by the well-known United Sarona buyers group. The latter project is in the underground stage. Landmark Tel Aviv, which will be constructed on a 13-dunam (4.25-acre) lot, contains two 40-storey buildings with multiple uses. The ground floor and first floor will have 7,000 square meters of commercial space.

The main use of the project will consist of 140,000 square meters of offices. Each building will also have 50 apartments. The project will also have a six-storey underground parking lot, a sports club, a swimming pool, a performing arts school, and a public plaza.

AFI Properties CEO Avi Barzilai and Melisron CEO Avi Levy said, "The luxury complex offers residential, commercial, and office surroundings in a high-demand area of Tel Aviv at walking distance from the main centers of interest in the city. AFI Properties and Melisron selected Electra Construction to carry out the project in the belief that cooperation between the companies will provide the most professional and best solution."

Work on the project is scheduled to begin in November 2019 and be completed within five years. Architect Avner Yashar designed the project.

Published by Globes, Israel business news - en.globes.co.il - on October 29, 2019

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

Landmark Tel Aviv  / Imagin: PR
Landmark Tel Aviv / Imagin: PR
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