NIS 73 million per dunam in the west of the Yitzhak Sadeh complex.
Consolidation of plots will allow the construction of 2 towers
Buy and build in the Yitzhak Sadeh complex in Tel Aviv
Photo:
Imaging: 3Dvision
Produced by the Department of Special Supplements
The new city of Tel Aviv takes shape: Acro Real Estate, in cooperation with Phoenix, Yuvalim and City Boy, purchased a dunam on Menachem Begin Street, on the western side of the Yitzhak Sadeh complex. The land was purchased from the Israel Lands Administration and private owners for NIS 73 million.
The companies intend to merge the plot with additional plots purchased in recent years in the complex: the first is a plot of 2,626 square meters (B4) that Acro purchased with the Phoenix in August 2019, for NIS 211.2 million. The other two plots are owned by Yuvalim.
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The total area of the four plots is about 7 dunams.
The companies intend to promote a master plan for about 80,000 square meters of housing, hotels, offices and commerce in a project of 2 towers.
The lots are located next to the light rail station, which is located on the Carlebach-Hasmonean and Menachem Begin combined traffic routes.
Since 2018, Acro, together with partners, has invested more than NIS 1 billion in the purchase of land in the new City complex.
In addition to these acquisitions, the company is building the Alpha Tower in the complex, which will include about 120 apartments and about 200 hotel rooms, and the 37,000-square-meter Acro Real Estate office tower, which is expected to be inhabited at the beginning of the second quarter of the year.
The new City complex will include 14 towers, including an indoor park that will cover about 21 dunams.
A boulevard of cafes, restaurants, boutique shops, shopping centers, sports and entertainment will be built on the edge of the park.
The complex began with the construction of the red and green light rail stations.
Produced by the Department of Special Supplements