Friday, May 18, 2018
A still unfinished real estate, planning, and legal saga lies behind the demolition. The Dolphinarium was built at the initiative of businessperson Zvi Efron with financing from South African investors on land leased from Israel Land Authority (ILA). In 1989, German businessperson Josef Buchmann bought the lot for $5 million. 20 years ago, when the Tel Aviv municipality wanted to open the beachfront to the public and continue the promenade there without interference, it signed an agreement with Buchmann's company, Sha'ar L'Israel, for an exchange of land. Buchmann was to have given the Dolphinarium site to the municipality in exchange for 12 dunam (three acres) on the east side of Herbert Samuel Street. Buchmann sold the new site to a group of developers in 2015.
The new plan gives the developers rights to construct 48,000 square meters of hotel, residential, and commercial space; up to 26,500 square meters of above-ground service space; and 36,000 square meters of underground parking space. Construction of a building with 250 square meters on the public space will be allowed. Objections to the plan were filed by the Movement for Quality Government, the Adam Teva V'Din non-profit organization, and representatives of the residents, who claimed that the developer had received irregular and excessive rights.
Monday, February 12, 2018
Isrotel Ltd. has notified the Tel Aviv Stock Exchange that it has leased the building which is still under construction on Tel Aviv seafront their other property, the Royal Beach hotel.
The new hotel will be part of Isrotel's Exclusive Collection, which includes the Tel Aviv Royal Beach and the Jerusalem Orient Hotel opened last year. The new 5* hotel will have 234 rooms and suites, swimming pool and spa and a 1,000 square meter conference center.
The new hotel, which is due to be completed by 2021, has been leased for 15 years with an option to extend by another 10 years. Isrotel has undertaken to pay a minimum annual rental fee (linked to the CPI) or a percentage of the annual turnover of the hotel - whichever is higher.
Monday, September 11, 2017
The report is based on data conducted by IVC Research in preparation for the DLD Tel Aviv Innovation Festival taking place this week. Tel Aviv Global is a municipal agency that manages various incentives for entrepreneurs setting up in the city.
The new report points out that the city has doubled the number of international R&D centers over the past five years – from 35 in 2012 to 73 in 2017. Well-known international companies now having a tech presence in Tel Aviv include Visa, Renault-Nissan, Bosch, MasterCard, Google, Facebook, Amazon, Coca-Cola, Microsoft, AOL, Samsung, Siemens, PayPal, Deutsche Telekom, Citibank, Intel, Yahoo, Barclays, IBM and Apple.
These international R&D centers provide over 6,200 jobs, according to the report. The 2,000 total high-tech companies in Tel Aviv, moreover, constitute about a quarter of the number of companies in the high-tech sector in Israel overall.
What kind of high-tech companies open shop in Tel Aviv? It used to be more seed-stage companies, but that’s shifted to more R&D-stage companies. “This shift in the composition of startups is evidence of a maturation of startups in the city and their progression from idea stage to a process of research and development,” Tel Aviv Global commented.
Tel Aviv’s interest in attracting more international R&D centers is key for the future of the entire industry, Tel Aviv Global CEO Eytan Schwartz said the agency is “working with our governmental partners on continuing the process of attracting international R&D centers; opening international accelerators; encouraging foreign entrepreneurs to work in the city; and promoting the activity of global corporations with an emphasis on Chinese companies.”
Tel Aviv Global isn’t the only organization that sees the value of Tel Aviv’s intense concentration of startups. The Virgin.com website called Tel Aviv “one of the world’s best startup hubs.”
Monday, July 31, 2017
The mall area drew quite a lot of public attention in 2001, when developer Ruth Speiser, who was born in the 1950s as a rent-controlled tenant in the house at the intersection of Rambam and Tavor Streets and slowly accumulated properties in the area, announced her intention of setting up a "quarter" that would include a boutique hotel and luxury apartment buildings. Speiser's ideal was innovative, because it mentioned for the first time shared management of the street. The plan included preservation and reconstruction of all the buildings marked for preservation with additional construction, demolishing buildings in the area not marked for preservation, and building new residential buildings in their places.
According to this plan, commercial space and an underground parking lot with 1,500 parking spaces would be built. One of the plan's interesting ideas was developing backyards and creating immediate access to Allenby Street. "A living dream," she told "Globes" in early 2004, "is rejuvenating the home and street on which you were born."
Not much has happened in the area in the 16 years since the heralded launch of the "quarter" plan. The large debts troubled the developers, the banks lost patience, and the buildings that Speiser and Lehi bought moved from hand to hand. In 2007, Nicholas Berggruen acquired six buildings (Michael Chernoy was previously in negotiations that did not succeed). The buildings were sold to YH Dimri Construction & Development Ltd in 2010, which sold Tamar House to French investor Gerard Bentolila for NIS 35 million in 2012. On June 9, Dimri reported that it had signed an option agreement (not for the first time) to sell three more properties on the street: one at 18 Rambam Street, one at 12-16 Rambam Street, and one at 44 Hatavor Street.
Thursday, July 13, 2017
The beachside city in Israel isn’t the only hotspot attracting more wealthy sun worshippers. Miami; Palm Beach, Florida; Dubai and Sydney also saw a significant jump in their cohort of second-home owners worth upward of US$10 million, according to the report published last week. Both Tel Aviv and Sydney saw a 30% increase between 2015 and 2016, according to New World Wealth, which is based in Johannesburg, South Africa. The Mediterranean metropolis gained 600 more multimillionaires in 2016, up from only 2,000 the year prior. Meanwhile, there were 3,500 multimillionaire second-home owners in Sydney last year, compared to 2,700 in 2015.
In total, New World Wealth, which rounds figures to the nearest hundred, estimates that there are 522,000 people worth US$10 million or more spread across the globe. The vast majority of those individuals, some 87%, own more than just a primary residence, the group said in its news release.
Monday, March 27, 2017
The mall was originally scheduled to open in April 2015, but that was postponed several times. According to Gindi TLV CEO Mordi Shabat, the delay was not due to difficulty in finding tenants for the stores. "The late opening of some of the stores resulted from demands by the chains' headquarters overseas, some of them merchants doing business in Israel for the first time, and some of which are undergoing a change in concept," he said, adding, "the engineering complexity of the project, which is part of a complex composed of public centers, not just a shopping center, involves a very difficult engineering challenge, and led to two postponements of the opening date."
Sunday, March 12, 2017
There was not a single housing deal over NIS 50 million in 2016, whereas there were several such deals in the previous year and several deals worth more than NIS 100 million in 2014. In Jerusalem, only two luxury apartments (over NIS 10 million) were bought by foreign residents in 2016, down from 12 in 2015. Nevertheless, there was no shortage of major deals last year, with 19 of the 30 most expensive real estate deals last year in Tel Aviv.
Tuesday, January 17, 2017
Following hot on the heels of the Sarona Food Market and Shuk HaTzafon, the new Shuk brings some exotic and high quality food stores and restaurants in the south of Tel Aviv.
Whether you live in Tel Aviv all year round whether you're just a tourist visiting the White City, you need to go visit this new place for the following reasons:
1. The Location! It’s on the corner of Rothschild and Allenby, in Tel Aviv’s most up-and-coming area!
2. It’s open 7 days a week!
3. It’s open in the evening, a great place to stop and get some munchies after a long night on the town! Coming soon there’s going to be live music and shows.
4. Some of our old favourites are going to be there, including Bunny Chow (get a free drink with your meal with the Secret Tel Aviv VIP Card) and HaMalabiya.
5. Some cool new additions to the Tel Aviv street food scene, including Mexico City and Chipsea Kings (what an awesome name!).
6. Plus some cool fresh food shops, including Master Fish and a fruit and veg stand – great for shabbat shopping!
This part of town was already popular for the Shuk HaCarmel. This new addition that expands the available range of options is very welcome.
Source Secret Tel Aviv
Tuesday, December 20, 2016
It will be decorated and accessorised by the Armani studio. White City Residence is located on Yitzhak Elkhanan St. at the edge of the Neve Tzedek neighbourhood, adjacent to Rothschild Ave. Until several years ago, Yitzhak Elkhanan St. near the Carmel Market was considered a neglected area with a relatively low real estate value. But over the last decade, the face of the neighbourhood has changed to the point that it now boasts many luxury developments such as this 161-apartment project. In practice, most of the buyers purchased multiple apartments and connected them, therefore, the current number of apartments totals about 95.
Wednesday, December 14, 2016
Amnon spent NIS 80m ($21m) for the penthouse spanning floors 41 and 42 while his co-founder went so a more modest 300sqm flat on the 28th floor for just NIS 30m ($8m). The penthouse extends over 600 sqm, has 100 sqm of terraces overlooking the city and Mediterranean sea and has its own swimming pool and sauna.
In 2012, Eyal Waldman, the CEO of Mellanox had made the news after purchasing a flat on the 31th floor for NIS 19m ($5m). The founder of social gaming company Diwip, Yaniv Gamzo, also bought 2 flats in the tower, one that he rents and the other that he lives into.
You can check the view from the penthouse in the video below: