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it seems they have no real intention to build the two projects (Sarona hotel and Egged tower). It looks like they are simply waiting for the prices to go up to sell the land. I have no other logical explanation to the delays. Where is TA municipality in all this?
 

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In the last years Nitsba has become notorious for the snail's pace at which construction work on its sites is undertaken. Among these sites are the Sarona hotel, Natanya sea tower and the renovation of the Princess hotel in Eilat.

At least the muni of Eilat has really gotten tired of the slow renovation pace and threatened to nationalized the hotel's private beach. And not surprisingly the construction turned from snail's pace to wrap speed.

Hopes TLV muni will give them a good slap :)
 

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I don't mind as much in the case of Egged tower, but Sarona hotel case is simply outrageous.
They have dug a huge crater in the center of the city and just left it there for no good reason.
This is among other thing a danger for pedestrians (despite the fences).
 
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