RAY TLV recently purchased two buildings in Ramat Hachayal in Tel Aviv for NIS 86 million, ahead of a redesign on the land, which will include a 23,000-square-meter mixed-use complex. Globes has learned that these are two adjacent buildings at 14 Raoul Wallenberg Street.
The company, which specializes in land improvement, purchased the existing four floors above commercial areas, which cover an area of approximately 3,400 square meters, from Beit Kadima, for NIS 38 million. The other, rear building in the complex, which has an area of approximately 4,800 square meters, was purchased The company is entirely from MiG Investments, Timrat, about NIS 48 million.
RAY TLV recently purchased two office buildings in Ramat Hachayal, Tel Aviv, for about NIS 90 million. These are adjacent buildings at 14 Raoul Wallenberg Street – in the front building facing the street, the company purchased the 4 floors above the commercial areas (opposite which RAY TLV operates in cooperation) in the amount of 3,400 square meters which was purchased from Beit Kadima for NIS 38 million; The second rear building, which borders the planned 4,800 square meters, was purchased from MiG Investments for NIS 48 million.
Ray TLV project at Ramat Hachayal in Tel Aviv / Imaging: Barali Levitsky Kasif Architects
The entire land covers an area of about four acres. The company will operate to design under the two buildings one planning complex with employment characteristics, in the form of one building in a total built area of 23,000 square meters of commercial space, hotels, offices, clinics, etc. At the end of the planning work, as RAY TLV does, it intends to offer it for sale. The project is expected to be completed by December 2023.
Ziv Poplevsky, one of the founders of RAY TLV: “In recent days, the company has completed the acquisition of the two properties in Ramat Hachayal in favor of creating a four-dunam planning sequence on private land. We are planning a significant project in terms of visibility and volume. In the employment complex of Ramat Hachayal, and it is believed that the green line of the soft relief, whose work on Raoul Wallenberg Street began last March, along with an update of the master plan (cell / 5500) expected to approve and affect the area, created very high demand for the area. 92% “.
Ziv Popovsky, one of the founders of Ray TLV / Photo: PR
It should be noted that a recent deal, the sale of land in southern Tel Aviv by Israel-Canada to Efi Capital Real Estate and Shoval Nachshon for NIS 468 million, actually began in the course of RAY TLV, which sold the land to Israel-Canada about three years ago, for NIS 216 million The company currently operates in several employment centers in the city of Tel Aviv, including the Shlosha / Nirim complex, the Railway / GRA and the revitalized Neve Chen, with a total area of approximately 200,000 square meters.