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Plans revealed for Israel’s tallest office tower

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Azrieli Group controlling shareholder David Azrieli laid the foundation stone Sunday for the Sarona Center - a single, 200-meter, 50-stories tall building in Tel Aviv’s nascent southern Kirya business district.

Azrieli Sarona will become Israel’s largest office tower upon its scheduled completion in 2016, offering 125,000 sqm of working space, a three-story, 11,000 sqm mall, and a seven-story underground parking lot for 1,600 vehicles. It will be the country’s second-tallest building overall, behind Ramat Gan’s 244-meter, 68-story, multi-purpose Moshe Aviv Tower.

“People will undoubtedly ask why I am starting an NIS 1.5 billion project during a period of slowdown and uncertainty,” Azrieli told reporters. “Those who know our company’s history will see that everything we do is for the future, and the future is good. We believe that once we finish this project, the wave of losses will turn once again into gains.”

Azrieli Group purchased the land from the Israel Land Administration for NIS 522 million last year. The building will be constructed at the eastern end of the Sarona compound near Menachem Begin Road and Kaplan Street, almost diagonally opposite the three existing Azrieli towers.

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