Petah Tikva municipality to build new bus station

Petah Tikva
Petah Tikva

The Petah Tikva Development Company will begin building the new bus station and commercial center next year.

The Petah Tikva municipality will begin work on a new central bus station in 2017. The new bus station, which will replace the old one, will contain a transportation center, commercial space, and offices for rent, sources inform "Globes."

Petah Tikva's current bus station was built in 1957 near the old city center, adjacent to main traffic arteries such as Highways 4, 5, and 6. In contrast to many central bus stations around Israel owned by Nitsba Holdings Ltd. (TASE: NTBA), the Petah Tikva municipality owns the land on which the city's current bus station stands. In 2007, the District Planning and Building Commission approved a new multi-purpose municipal construction plan including commerce, offices, sheltered housing, park and ride parking lots integrated with the light rail station, and an underground bus station. The plan also includes a roundabout at the intersection of Orlov and Bar Kochba Sts.

The Petah Tikva Development Company will be responsible for carrying out and managing the plan. It is expected to build the bus station and operate it on behalf of the municipality. The estimated NIS 250 million cost of the bus station will be financed by the municipality, various government agencies, and raising money.

Petah Tikva Development Company general manager Itamar Eldar said that the new bus station would integrate different means of transportation (buses, light rail, private cars, and bicycles), and would amalgamate the municipal bus routes of Petah Tikva and Greater Tel Aviv. "The bus station will have a park and ride parking lot with 700 parking spaces for light rail passengers and 100 other parking spaces," Eldar said. "The station will also include a 12,000-sq.m. office building, most of which will be occupied by municipal offices, and 7,000 sq.m. of commercial space. Construction will total 20,000 sq.m. of space above ground and 35,000 sq.m. of underground space."

Preparatory spadework is slated to begin in a few months. A temporary bus station will be built and begin operating in the second half of 2017. Work on the new bus station will then begin, and take another four years. Eldad also predicted that 30,000-40,000 people, 50 bus routes, and 1,000 buses would pass through the new station daily, as well as 1,500 private cars.

Petah Tikva Mayor Itzik Braverman said, "The new central bus station will rejuvenate the old city center, turning it from an out-of-date and aging area into a modern center of a major metropolitan city that will reach 300,000 residents in the coming decade."

Published by Globes [online], Israel business news - www.globes-online.com - on March 1, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Inflation  credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft  credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen  credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia  credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018