Approval Gained for 855 Homes in North Tel Aviv

The Tel Aviv Planning & Building Committee approved the construction of 855 apartments on three lots in the western part of Einstein Street in north Tel Aviv.

28 April 2020 | Tel Aviv, Israel

Hagag Group Real Estate Development Ltd. has received approval from the Tel Aviv Planning & Building Committee for the construction of 855 apartments on a three-lot complex in the western part of Einstein Street in north Tel Aviv.

Hagag bought a stake in the three lots in a series of deals in 2016 and 2017 for NIS 440 million. The lots, in which the State agency Israel Land Authority retains a stake, were bought with much smaller building rights than are now being permitted.

Featured Buildings

Lot 33A-Lot 36A (Complex)

Lot 33A

Lot 35

Lot 36A

In the plan now approved, 215 apartments in 30-floor buildings will be built on the 33A lot on Einstein Street also in 30-floor buildings, and 300 apartments at lot 35 and 340 apartments at lot 36A. The project will also include 8,350 square meters of commercial space.

One-third of the apartments will be up to 80 square meters in size, one third will be between 80-110 square meters and the rest will be larger than 110 square meters.

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