The Tel Aviv District Planning and Building Committee has approved the enlargement of the Landmark project in Tel Aviv's Sarona district. Construction of the two towers at the southwest corner of Sarona is already underway. The size of the two towers has now been increased from 112,000 square meters to 166,000 square meters.
The project is being jointly developed by AFI Properties and Melisron Ltd. (TASE: MLSR) with design by architect Avner Yashar and construction by Electra Ltd. (TASE: ELTR). The cost of the project is estimated at NIS 2.1 billion and it is scheduled to open in 2023.
One of the towers is being built at the corner of Da Vinci Street with 77,000 square meters of office space and 4,250 square meters of commercial space. The second tower on Ha'arba'ah Street will have 118,660 square meters of office space, 116 apartments covering 8,000 square meters, 7,860 square meters of commercial space and 6,050 square meters of public space. The plan allows for some of the office space to be converted to a hotel.
Melisron CEO Ophir Sarid said, "In one of these buildings there is an atrium, which is perhaps the largest in the world. It's possible that it will make the Guinness book of records. It's crazy big about 200 meters high and 17 meters wide. There are very innovative elements in the project. Everything is state of the art, the location is phenomenal - the most central there could be."
Published by Globes, Israel business news - en.globes.co.il - on April 6, 2021
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