Developer Chosen for Twin-Tower Project in Tel Aviv

The twin-tower project, which contains north and south 32-floor buildings, will have 65,000 square meters of above-ground space.

31 March 2020 | Tel Aviv, Israel

Despite the economic slowdown, it was reported on 26 March 2020 that Gindi Holdings had selected Danya Cebus to construct the Upper House project in Tel Aviv.

The project is located on a 9.6-dunam (1-hectare) lot adjacent to the Menora Mivtachim basketball arena in Yad Eliahu. The lot is bordered by Hashlosha Street on the north, Ayalon Highways on the west, Wingate Street on the south, and Yigal Allon Street on the east. The twin-tower project, which contains north and south 32-floor buildings, will have 65,000 square meters of above-ground space and 29,000 square meters of underground parking space for use by the project's tenants.

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The Upper House Tel Aviv (Complex)

The Upper House Tel Aviv North Tower

The Upper House Tel Aviv South Tower

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Peri Group

The permit for beginning work on the project was received the week of 23 March 2020, with occupancy scheduled for five years from now. Proceeds for construction work on the towers, digging, construction of public space, and building the parking lot will be ₪649,000 (US$183,000), including value-added tax (VAT).

Gindi Holdings said that the company had sold 581 housing units in three months, of which 110 units were in option agreements with the Megureit company.

Projects built by Danya Cebus include the Tel Aviv light rail Red Line, Assuta Ashdod Hospital, Timna Airport near Eilat, the new Ministry of Justice building in Jerusalem, the ₪1.3 billion (US$370 million) TLV project with over 1,000 housing units.

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