Azrieli Group Opens New Senior Living Facility in Rishon LeZion

The Azrieli Group, led by CEO Dana Azrieli, has officially opened its fifth senior living facility, Palace Azrieli Rishon LeZion. The project represents an investment of approximately 590 million shekels (around $160 million USD).

The new facility, located in Rishon LeZion, is a 30-story building featuring 274 residential units. It joins the Palace network's existing homes in Tel Aviv, Ra'anana, Modi'in, and Lehavim, bringing the total number of units across the country to over 1,400.

The senior living complex is designed to offer a comprehensive range of services for the elderly, including a medical wing, swimming pool, sports center, spa, cultural and leisure areas, a restaurant, and a cafeteria. A rooftop space overlooking the sea is designated for events and activities. The facility also includes a commercial center.

Culinary services at the new home will be overseen by renowned chef Israel Aharoni. The facility is managed by Tal Amit, who holds a master's degree in gerontology and has prior experience in establishing and managing senior living communities.

Even before its official launch, the facility saw significant demand, with approximately 40% of its units sold by the end of the second quarter of the year. The opening aligns with a growing demand in Israel's senior living market, driven by increased life expectancy and a desire for independent living combined with community, medical services, and cultural activities.

Dana Azrieli stated that the new facility is part of the group's long-term commitment to investing in and expanding the senior living sector, aiming to create quality communities that provide residents with security, belonging, and a high quality of life. Iris Cohen, CEO of the Palace network, emphasized the facility's embodiment of their vision for senior living, integrating quality housing, advanced medical services, and a rich community life.