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Ampa in talks to sell Tel Aviv lot for $45m
A Texas company wants to build a 50-storey tower on the site for $80-85 million.
Guy Yamin 23 May 06 16:29

Sources inform ''Globes'' that Ampa Real Estate Ltd. is in advanced negotiations with a Houston, Texas, developer to sell a lot in the Amcor compound on Yigal Allon St., Tel Aviv, slated for a 50-storey skyscraper. The Texas company is offering $45 million.
The lot is located next to Beit Ampa, whose construction and marketing are almost complete. If the Texas company, owned by five foreign investors, buys the lot, it will build a 50-storey skyscraper on it, at an additional investment of $80-85 million, bring the investment to $130 million.

Ampa Real Estate, owned by the Nakash brothers and the Fogel brothers, is the sole owner of the 25-dunam (6.25-acre) lot, which is being offered a very attractive price, given its location.

MAN Properties agent Haim Toronto, who specializes in marketing offices in central Israel, said that if a deal is concluded, the building would probably be built in four years, and it would be marketed in a completely different market. “There is almost no supply of offices in the area now. Azrieli’s Canit Hashalom Investments, for example, has changed the use of the Square Tower to a hotel. In my opinion, in four years time, the most serious competition to the foreign group will be the Diamond Exchange compound in Ramat Gan. Kobi Rogovin is planning to build a large office building there, and other developers are also sensing a revival in the office market.”

Published by Globes [online], Israel business news - www.globes.co.il - on May 23, 2006


good news...maybe the tower will finally be built.
 

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Wait, so if they buy the lot, would the tower be built as we kniow it now, or will there be a completely different proposal?
 

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I thought that it was going to be around 60-70 stories.
 

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Discussion Starter · #4 ·
I'm guessing it would be a new skyscraper because it would come under a new developer...and it could be taller than 50 fl. once the deal goes through.
 

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From what Mr. Aisenstein says here.... there will be 2 towers...
one is Ampa and one is this foreign company..

this looks good.
But 50 storey what? business tower or resedential.
And they hinted that they will build soon in Ramat Gan Diamond Exhcnage?
What exactly...

i know this is sudden but some of the 9-10 floors need to be taken down..
Anyone wanna get rid of Paz tower or perhaps those small areas?
 

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please use the tel aviv projects thread for discussion!!

anyway the article says its one tower of 50,000 sqm and 30,000 sqm basement meaning it will be around 55-60 floors. The land hasnt been sold yet, its on offer. The other plot (3) will be a smaller office comlex or residential tower. The first lot was built with 9 floor buildings.
 

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source26 said:
please use the tel aviv projects thread for discussion!!

anyway the article says its one tower of 50,000 sqm and 30,000 sqm basement meaning it will be around 55-60 floors. The land hasnt been sold yet, its on offer. The other plot (3) will be a smaller office comlex or residential tower. The first lot was built with 9 floor buildings.

wow!
30,000 Sqm of basement...
i think they will have to share the parking spaces with the area...
this is good...

Is there problems in terms of basement in Israel/Tel Aviv?
Im just curious..especially in Haifa, since its mountainous city.....

Im asking because in Florida, its hard to have basements, since its swamp lands...
 
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