For Sale in Israel: Huge Property for Construction of 700 Apartments and 100,000 sq m. for a New and Modern Employment, Commercial and Culture Center

TEL AVIV, Israel, May 7, 2015 /PRNewswire/ --

One of the most important, largest and last remaining available land reserves in Tel Aviv, one of the world's most popular cities, is currently on sale through a huge tender that is set to close on by the of May 2015. In the tender, 35 sq m. in south-central Tel Aviv, very close to prestigious Rothschild Blvd., are being offered to a developer who can build residential and commercial buildings there. The area that is up for sale is part of a larger, 70,000 sq m. plan designed for employment, residential and commercial space and to serve as a cultural center for the entire area. 

The tender for sale of this huge, high-demand area was issued last month and has garnered a great deal of interest, including Israel's largest real estate groups. Although this is very central land in Tel Aviv, one of the world's most exclusive cities, it is currently used for parking, fruit and vegetable vendors' stalls and small businesses. In the past, the space was home to Tel Aviv's old central bus station.

According to the new plan for the area, approved by Tel Aviv's Planning and Construction Committee, building rights for 67,000 sq m. (about 700 apartments) and 100,000 sq m. for employment and commerce are being offered. Next to the area, in a part owned by the municipality, the city plans on building an art school (Minshar School of Art), a cultural center and a community center on an area of 1,000 sq m.

The new plan for the area was designed by former city architect, Dan Keizer. Beyond the areas designated for residential and commercial space, the plan includes a series of passageways for pedestrians, bicyclists, traffic arrangements to connect traffic of private vehicles with public transport, including the light rail, and integration with the city's network of green streets.

According to the tender, the land is available for sale in bloc or in parcels. The preference is to sell the area in whole. After receiving the proposals, the bidders will be called in for a BMBY process among them. The highest bid, or bids, will be declared the winners. Currently, the final date to submit bids is the end of May 2015.

Architect Dan Keizer, who is designing the plan, said: "Tel Aviv is filled with places that used to be run down and are now in very high demand. I believe that this will be the case here as well. The area in question is just a five-six minute walk from Rothschild Blvd. - the city center's trendiest and most popular spot. Our goal is to transform the area into part of the city's good and quality urban fabric."

Want to purchase the tender documents? Go to:  http://www.telavivstation.com

For further information:
Adv. Liat Binyamini
[email protected]
+972-54-4933596
+972-74-7339206

SOURCE M. Gluska law office