Of money
The giant of Tel Aviv: 300 meters high, NIS 3 billion
The real estate companies Amot and Gev Yam are converting to the office market and today launched the ToHa 2 office tower, which will be built in central Tel Aviv at a cost of about NIS 3 billion. Shimon Aboudrahm, CEO of Amot: " "There is a risk in the project. We gave up a mall and luxury housing and focused on the business customer."
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Roast Greenberg
Monday, 25 October 2021, 14:03 Updated: 15:15
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A new office tower challenges the new work model that many adopted during the Corona period. The real estate companies 'Amot' and 'Gev-Yam' have launched the ToHa 2 tower, which is expected to be built between Yigal Alon and Derech Hashalom streets in Tel Aviv, at a total cost of about NIS 3 billion.
The ToHa 2 tower will be spread over 77 floors of 2,500 3000 square meters per floor, and will reach a height of about 300 meters - 3 times higher and larger than its older brother next to which it was built - the 1 Toha office tower. The latter was inaugurated in 2019 in central Tel Aviv and was selected last May as the best tower in the Middle East and Africa in the International Skyscraper Council (CTBUH) competition then held in Chicago USA.
The total office complex of ToHa 1 and ToHa 2 is expected to accommodate up to 20,000 employees, who will have only about 2,600 parking spaces in the two buildings together.
This is because the planning of the second tower is mainly based on the plans of the city of Tel Aviv to promote public transportation, along with the construction of 2 subway stations below it.
Ron Huldai, the mayor of Tel Aviv, referred to this at the launch event and said: "The tower was built on the hope that in about 10 to 20 years the subway will be built."
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ToHa Office Tower (Photo: PR)
For comparison, Azrieli Sharona Tower contains approximately 2,400 square meters of office space on each of its 61 floors, and rises to a height of 238.5 meters - which defines it as the tallest tower in Israel since 2016. Its construction cost was approximately NIS 1.5 billion - half the cost of building TaHo2 .
the construction cost of the latter's high, offices focused only reflects a significant risk for cubits, and Rent-Sea, traded on the Tel Aviv worth $ 10.5 billion and approximately NIS 7.9 billion, respectively. this is mainly due to the corona, in which companies Many have decided to reduce office space, especially in the high-tech industry.
Natan Hetz, CEO of Aloni Hetz, Shimon Aboudrahm, CEO of Amot, Avi Yaakovovich, CEO of Gev Yam and Eldad Fresher, Chairman of Gev Yam (Photo: Sivan Farage)
Eldad Fresher
, Chairman of Gev-Yam, commented on this at the event, noting: Along with the expansion of existing Israeli companies that need more office space.
In addition, we express confidence in the Israeli economy, and recognize that there is a great demand for offices Agreement working style hybrid created by the corona, particularly in the area of Tel Aviv, which is a stronghold of human capital of high-tech companies in Israel. "
My father Jakubowicz
, CEO Bayside, He added that "we expect high demand for ToHa2 and high rental prices. We finished marketing ToHa1 even before we finished building and today there is not a single square meter available."
Jakubowicz did not specify the requested rental prices for the new tower, which are expected to be higher than the rental prices for offices in the area, which stand at an average of NIS 85-120 per square meter in new office towers.
Shimon Aboudrahm
, CEO of Amot, also said at the event "Because there is a risk in the project. We gave up a mall and luxury residences and focused on the business customer. The pressure is at maximum, but pressure is what turns coal into a diamond."
The tower is expected to complete construction in about 5.5 years, and two ToHa towers are expected to sit on an area of about 17 dunams, of which about 13.5 dunams were used to build a green park.
The building was designed by architects Ron Arad and Avner Yashar, who also designed ToHa1.
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