Gev-Yam signed the deal to build the new Apple building in Herzliya

by time news

The huge deal between the technology giant Apple and Gev-Yam was signed over the weekend, Calcalist has learned.

Read more in Calcalist:

Gev-Yam will build a 30-story office tower in Herzliya in a project that costs close to NIS 1 billion. It will be added to the O2 campus on Maschit Street in Herzliya Pituach, which is already leased almost entirely to Apple. Gev-Yam will also build an addition to the existing building.

The total area that Gev-Yam will build will cover 45,000 square meters and the NOI (income from assets less operating costs) that Gev-Yam will receive is expected to reach NIS 50 million per year.

Gev-Yam’s plan to build an office tower to be added to the O2 campus was first published in Calcalist in July 2020. The complex now has three wings: an east wing with seven floors, a west wing with 16 floors and a northwest wing with two floors, where the new building is planned . To encourage employees not to arrive with the private vehicle, no new parking spaces will be built.

The architect of the plan is Avner Yashar, and about a month ago the master plan for the building was approved. Construction will begin immediately and will be completed in 2024. The construction of the current Apple campus was completed in 2015, and has about 23,000 square meters of office space and 27,000 square meters. Of an underground car park with 740 parking spaces.

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