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  #41  
Old Posted Apr 4, 2005, 6:58 PM
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The Wholesale Market Towers are not being built the same architect as the one for the Amkor Tower, jmancuso, and that project has been approved recently, though I haven't heard of any groundbreaking on that project yet.
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  #42  
Old Posted Apr 5, 2005, 5:18 PM
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Here are some updates on some other buildings from 4/1 that I forgot about.

1st Intl Tower



Kanarit Tower 2


Not sure what is being constructed here, though it could either be Sayonei Ramat Aviv or the Kiryat Atidum Bldgs


Renovation being done in the upper floors of the Shalom Meir Tower
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  #43  
Old Posted Apr 6, 2005, 8:22 PM
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2 new rail lines to run from Saturday night

Israel Railways is inaugurating the Tel Aviv-Jerusalem and Tel Aviv-Ashkelon lines.

Benny Barak - "Yediot Ahronot" 6 Apr 05 14:24

Hebrew daily “Yediot Ahronot” reports that Israel Railways will start operating two new lines from Saturday night: the rebuilt Tel Aviv-Jerusalem line through Beit Shemesh, and the new Tel Aviv-Ashkelon line.

Travel time to Jerusalem on the rebuilt line will be 73 minutes. Tickets will cost NIS 19. 30 trains will operate daily.

One train per hour in each direction will initially run on the Tel Aviv-Ashkelon line. When the double track between Ashdod and Ashkelon is completed in September, there will be two trains per hour in each direction. Travel time between Ashkelon and Tel Aviv will be 45 minutes.

The Tel Aviv-Ashkelon line runs through Ashdod and Lod. When the West Rishon LeZion station is built, travel time to Ashkelon will be cut to 35 minutes. The line cost NIS 235 million to build. Tickets will cost NIS 22.50. For the sake of comparison, the bus fare on the direct Ashkelon-Tel Aviv route is NIS 21.50, and the fare on the local route is NIS 25.

Minister of Transport Meir Sheetrit said the line would reach Sderot in 2007, and would reach Beersheva through Netivot and Ofakim a year later. He said the Ministry of Transport was investing NIS 1 billion in building railway infrastructure in the south and the Negev.
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  #44  
Old Posted Apr 10, 2005, 7:23 PM
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Some update from a newbie

I am from Israel myself and has been lurking on these forums for some months already so guess it is time to join
So here are some news.
The Manhattan tower might be delayed.
I saw a picture where it shows that they broke the ground but some archaelogical stuff was found so they are digging it now.
Hope they will resume construction soon.
And regarding the First Int'l tower there are two construction cranes there already.
I will try to check the place tommorrow after work and report here how it is progressing.
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  #45  
Old Posted Apr 10, 2005, 8:30 PM
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Discount Mortgage Bank seeks receiver for Jaffa Theater Tower

Mercantile Discount Bank has asked the court to appoint a receiver for Tlalei Yaffo's building in Jaffa.

Yitzhak Danon 10 Apr 05 13:09

Discount Mortgage Bank (TASE: DMBK) has applied to the Tel Aviv District Court for an urgent ex parte petition to appoint a temporary receiver for Illumination Sea Ltd.'s Theater Tower project on Jerusalem Blvd. in Jaffa.

The building comprises 56 small housing units. Discount Mortgage Bank claims that it granted Illumination Sea a loan for the project, the outstanding balance of which totals NIS 8.1 million. Tenants also hold NIS 13.4 million in guarantees.

In a separate case, Mercantile Discount Bank has petitioned the Tel Aviv District Court to appoint a permanent receiver for Tlalei Yaffo's residential and commercial building in Jaffa'a Ajami neighborhood. The building has six residential and one commercial floor. The bank lent the developer loans and credit, the balance of which was NIS 8.65 million at the end of September 2004.

Published by Globes [online], Israel business news - www.globes.co.il - on April 10, 2005
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  #46  
Old Posted Apr 10, 2005, 8:32 PM
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Rebuilt Jerusalem railway line cost 300% more than planned

The upgrade cost NIS 537 million and took a year more than planned. Travel time between Tel Aviv and Jerusalem is 72-86 minutes.

Gal Nissim 10 Apr 05 16:01

Israel Railways last night inaugurated the rebuilt Beit Shemesh-Jerusalem railway, a year late and costing 300% more than planned: NIS 537 million, instead of NIS 189 million. Travel time between Tel Aviv and Jerusalem will be 72-86 minutes.

In early 2002, Israel Railways promised that the upgrade would take 18 months, but it actually took 29 months. It also promised that travel time between Tel Aviv and Jerusalem would be 55 minutes; in practice it will be 72 minutes. Last night's inaugural ride from Jerusalem to Tel Aviv Central Station lasted 84 minutes.

Israel Railways' actions on the project have drawn sharp criticism, due to its missing almost every target. Poor planning and management problems were the main reason for the faults and construction difficulties. The original plan did not suit the conditions on the ground, forcing contractors to work with incorrect plans, causing cost overrides and delays.

This route, called the S-plan, is a temporary solution for a Tel Aviv-Jerusalem rail link, because of the long travel time. The line is not a real alternative for buses and private cars.

Published by Globes [online], Israel business news - www.globes.co.il - on April 10, 2005
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  #47  
Old Posted Apr 10, 2005, 10:13 PM
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Quote:
Originally Posted by TalB
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Rebuilt Jerusalem railway line cost 300% more than planned

The upgrade cost NIS 537 million and took a year more than planned. Travel time between Tel Aviv and Jerusalem is 72-86 minutes.

Gal Nissim 10 Apr 05 16:01

Israel Railways last night inaugurated the rebuilt Beit Shemesh-Jerusalem railway, a year late and costing 300% more than planned: NIS 537 million, instead of NIS 189 million. Travel time between Tel Aviv and Jerusalem will be 72-86 minutes.

In early 2002, Israel Railways promised that the upgrade would take 18 months, but it actually took 29 months. It also promised that travel time between Tel Aviv and Jerusalem would be 55 minutes; in practice it will be 72 minutes. Last night's inaugural ride from Jerusalem to Tel Aviv Central Station lasted 84 minutes.

Israel Railways' actions on the project have drawn sharp criticism, due to its missing almost every target. Poor planning and management problems were the main reason for the faults and construction difficulties. The original plan did not suit the conditions on the ground, forcing contractors to work with incorrect plans, causing cost overrides and delays.

This route, called the S-plan, is a temporary solution for a Tel Aviv-Jerusalem rail link, because of the long travel time. The line is not a real alternative for buses and private cars.

Published by Globes [online], Israel business news - www.globes.co.il - on April 10, 2005
Unfortunate. Rail travel in Israel in general needs some work. Is this a high speed line, and does it connect both Tel aviv and Jerusalem to Ben Gurion airport?
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  #48  
Old Posted Apr 11, 2005, 4:42 AM
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Re: The official Tel Aviv projects thread

amazing amount of development.....i didnt know israel was booming....it is a great country, tel aviv reminded me of barcelona or some other south european city.....beautiful.

you do have to admit....this is a collection of pretty funny looking buildings for the most part.

this one is beautiful though....great massing and composition.

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  #49  
Old Posted Apr 11, 2005, 5:25 PM
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First Int'l tower update

I went to the site today.
There are two cranes on site but the building haven't got above the ground yet.
It does seem to be ready to rise very soon though.
I will be following the development and will be posting updates on this one.
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  #50  
Old Posted Apr 11, 2005, 8:17 PM
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Not too long ago, I heard that construction has been said to resume for the Sqaure Bldg of the Azrieli Ctr, has gotten any taller lately?
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  #51  
Old Posted Apr 11, 2005, 9:37 PM
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Azriely Sq Bldg

Not yet.
There are rumours going around again that construction is to resume in 3-4 months.
There have been many times so I won't believe it until I see it myself.
As of now nothing is happening there
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  #52  
Old Posted Apr 11, 2005, 11:23 PM
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I read that the Ampa tower was on hold due to an excess supply of office space in Tel Aviv. Is this true, and if so, why are there so many other projects in lesser locations (Ampa was to be right next to the highway i believe)
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  #53  
Old Posted Apr 12, 2005, 7:37 AM
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Yes there is excess supply but

What do you mean other projects in lesser locations?
The 1st Int'l for example already has its tenant since it is the bank
who initiated the construction.
Same goes for Discount bank tower.
And other towers that were recently completed or will be completed
like Museum tower and Sonol tower do have some problem finding tenants currently
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  #54  
Old Posted Apr 12, 2005, 6:26 PM
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This isn't good news for the Be'eri Nehardea Tower
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NIS 50m loss, going concern warning for Beeri Towers

A. Arenson, the installation contractor, has discontinued work on the project, and sales have been halted.

Shai Shalev 12 Apr 05 17:07

The financial statements of Beeri-King Shlomo Towers Ltd., which initiated the Be'eri Nehardea project, report that the company’s loss in the fourth quarter of 2004 equaled its loss in the first nine months of the year NIS 50 million. The company lost NIS 3.7 million in 2003. The company lost money on both Be'eri Nehardea and its share in a project under construction in Warsaw, Poland.

Sources inform "Globes" that sales of apartments in Be'eri Nehardea have been halted, following the deterioration in the company’s business. BeeriKing Shlomo had only NIS 4.8 million in revenue in 2004, and a NIS 6 million negative cash flow from current activities. The company’s heavy 2004 loss increased its equity deficit to NIS 72 million.

BeeriKing Shlomo’s auditors, Zohar and Zohar and Co., wrote that the company’s activity depends on a resumption of construction, after installation contractor A. Arenson Ltd. halted work, and on continued financial coverage by Bank Hapoalim (LSE: BKHD; TASE: POLI) for the project. Bank Hapoalim has already lent NIS 250 million for the project.

Until construction is resumed, and further financial coverage obtained, the auditors say that significant doubts exist regarding the company’s ability to continue as a going concern. BeeriKing Shlomo is negotiating with contractors to resume construction on the project, and with Bank Hapoalim for the second stage of financial coverage.

A. Arenson, which discontinued construction of the project in November, owned 20% of BeeriKing Shlomo until recently. The shares were sold to Stooga International, owned by Canadian investors. Hersh Friedman heads the group.

In February, A. Arenson filed a court petition against the remaining shareholders in the project, Stooga (60%) and Dirom Construction Company (DROM) (40%), for the appointment of an arbitrator. He alleged that Stooga and Dirom had violated a commitment to allocate $1.4 million from the proceeds of the deal between them to repay a loan from Israel Discount Bank (TASE: DSCT), for which Arenson was also responsible. Adv. Ram Caspi was appointed as arbitrator.

Published by Globes [online] - www.globes.co.il - on April 12, 2005
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  #55  
Old Posted Apr 12, 2005, 6:41 PM
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Shikun Ovdim negotiating to buy 4 dunam in central TA

The lot is located near the Rothschild Blvd.-Allenby St. intersection.

Guy Yamin 12 Apr 05 15:38

Shikun Ovdim is negotiating to buy a four-dunam (one-acre) lot located near the Rothschild Blvd.-Allenby St. intersection.

A private company owned by Azorim Properties shareholder Leo Noe owns the lot, which is zoned for construction of a luxury residential high-rise with 300 apartments. Future sales proceeds from the apartments are expected to total $70 million. Noe bought the lot from Shlomo Ben-Tzvi, before acquiring Azorim Properties from Nochi Dankner.

The lot was offered for sale a few weeks ago, and many companies have expressed interest in it, including Tidhar Construction, America Israel Investments and Danya Cebus (TASE: DNYA) (jointly), Africa-Israel Investments (TASE: AFIL), and Red Sea Hotels.

A source close to the deal said that negotiations with Shikun Ovdim had only begun, and were still in the preliminary stage. The deal in question is a 36-37% combination deal.

Published by Globes [online] - www.globes.co.il - on April 12, 2005
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  #56  
Old Posted Apr 12, 2005, 6:56 PM
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300 apartments in one building?

That sounds like one really tall building.
Even 6 apartments per floor would make it 50 floors!
Does it have anything to do with Rotschild Plaza project?
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  #57  
Old Posted Apr 13, 2005, 8:25 PM
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Akirov negotiating purchase of Beeri Towers in Tel Aviv

Businessman Alfred Akirov plans to offer to repurchase some apartments in the project from their owners, upgrade the high-rise building, and sell the apartments.

Ofer Petersburg - "Yediot Ahronot" 13 Apr 05 14:27

The “Yediot Ahronot” Hebrew daily reports that businessman Alfred Akirov is negotiating to acquire the luxury Beeri - King Shlomo Towers Ltd. (Beeri Towers) project in Tel Aviv. Akirov specializes in the sale of apartments to well-known people in the top 0.1% income bracket, which includes residents of the Beeri Towers.

Akirov has asked to pay for the project by covering its NIS 250 million debt to Bank Hapoalim (LSE: BKHD; TASE: POLI). He also plans to offer to repurchase some apartments from their owners, upgrade the high-rise, and sell the apartments.

The Beeri Towers project, controlled by Dirom Construction Company (DROM) and Stooga, is in financial trouble, and its financial statements include a going concern warning. The developers’ report shows that losses totaled NIS 50 million in 2004, half of which was in the fourth quarter.

Published by Globes [online] - www.globes.co.il - on April 13, 2005
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  #58  
Old Posted Apr 14, 2005, 5:24 PM
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Re: 300 apartments in one building?

Quote:
Originally Posted by matrix2020
That sounds like one really tall building.
Even 6 apartments per floor would make it 50 floors!
Does it have anything to do with Rotschild Plaza project?
If it crosses with Allenby St, then yes otherwise no.
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  #59  
Old Posted Apr 14, 2005, 9:57 PM
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Smile Then it is

Second tallest planned for Rotschild Blvd I think.
Height: 37 floors above the ground,105 meters (344 ft) (estimated),194 meters (636 ft) including antenna (checked).

Location: Rotchild boulevard, Alenbi Street, close to America-Israel bank tower.

http://telavivinf.com/prat/future/mi...laza/page.html
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  #60  
Old Posted Apr 18, 2005, 8:21 PM
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Canit renews dozens of leases in Azrieli Towers

Law firm Yigal Arnon & Co. renewed its lease for 3,040 sq.m. for ten years, at $17.50 per sq.m. per month, compared with its previous rent of $19.50 per sq.m. per month.

Guy Yamin 17 Apr 05 11:57

Six years after building Tel Aviv's Azrieli Towers, Canit Hashalom Investments has renewed dozens of leases. Azrieli Center CEO Arnon Toren said the company had recently renewed leases for 10,000 sq.m. in both the Round and Triangle Towers, which cover an aggregate 100,000 sq.m. The leases were renewed for one to ten years, at $16.50-17.50 per sq.m. per month. Tenants renewing their leases include Big Band Networks, the Yigal Arnon & Co. law firm, and the Taiwan Delegation.

Yigal Arnon & Co. renewed its lease for 3,040 sq.m. for ten years, at $17.50 per sq.m. per month, compared with its previous rent of $19.50 per sq.m. per month. Berkman, Weschler, Sahar, Bloom & Co. Law Offices renewed its lease for 2,480 sq.m. for seven years, to 2011, at $16.50 per sq.m. per month. Big Band Networks renewed its lease for 2,050 sq.m. for three years, at $16.50 per sq.m. per month. The Sharir, Shiv, Friedman & Co. law firm renewed its lease for 759 sq.m. for four years, at $16.50 per sq.m. per month. The Taiwan Delegation renewed its lease for 650 sq.m. for five years, at $16.50 per sq.m. per month. The Gideon Fisher & Co. law firm renewed its lease for 330 sq.m. for three years, at $16.50 per sq.m. per month.

Toren said the new leases reflected a small decline in rental terms in the Azrieli Towers, which was less than the fall in rents elsewhere. "The fact is that over a tenth of the space in the towers has been renewed in long-term leases, is evidence of the tenants' confidence and satisfaction with their premises."

Toren added that marketing for the Square Tower would begin soon, in advance of the start of construction in a few months. The $50 million Square Tower will complete the Azrieli Towers complex.

Published by Globes [online], Israel business news - www.globes.co.il - on April 17, 2005
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