Israel's Largest Mall Opens New Platinum Floor After Major Ownership Changes

The "Kanyon HaZahav" (Golden Mall) in Rishon LeZion has opened its new "Platinum Floor," an expansion spanning approximately 12,000 square meters and representing an investment of around 100 million shekels. This addition brings the mall's total area to about 122,000 square meters, making it the largest mall in Israel by size. The new floor houses around 30 stores, including flagship locations for brands in fashion, footwear, accessories, beauty, and lifestyle, such as Victoria's Secret, Toys "R" Us, and Flying Tiger.

The opening follows a significant shift in the mall's ownership. In late June, the insurance company Migdal completed its acquisition of the remaining 25% stake from the Gindi family for approximately 840 million shekels, after having previously purchased 75% in 2008. The new floor was a key component of this transaction, with about 440 million shekels of the payment attributed to the new expansion.

This expansion is part of a broader renovation and upgrade initiative for the mall. The Gindi family had previously invested around 180 million shekels in renovations and expansions, along with an 80 million shekel project to renew the mall's facades. The mall, originally established in the early 1990s by the Gindi brothers, previously covered about 110,000 square meters and housed approximately 430 tenants.

In a separate development, Melisron had signed an agreement in September 2025 to acquire a 51% stake in the mall for 818 million shekels, but withdrew from the deal in July of this year due to anticipated regulatory hurdles from the Competition Authority. Following this, Migdal, now the sole owner, reportedly began seeking a new partner to assist in managing and enhancing the property. Migdal's direct ownership of this mall is unique, as it is their only directly held mall property in Israel.

To celebrate the opening, the mall management is planning activities during the Sukkot holiday, including gifts for shoppers and a children's activity area. Tal Gindi-Friedman, representing the former owners, expressed excitement about the new floor, stating it strengthens the mall's position as a leading national shopping destination with its diverse mix of leading brands.