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," a 12,000 square meter expansion costing approximately 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.

The expansion and renovation project, which also included an 80 million shekel facade renewal, was planned by the former owners, the Gindi family, who invested around 180 million shekels in recent years. However, the mall's ownership structure underwent significant changes.

In late June, the insurance company Migdal completed its acquisition of the remaining 25% of the mall from the Gindi family for approximately 840 million shekels, giving Migdal full ownership. Migdal had previously bought a 75% stake in 2008 for about 1 billion shekels. The recent transaction valued the existing mall at over 2 billion shekels, with the new Platinum Floor accounting for an additional 440 million shekels of the Gindi family's payout.

Earlier, Melisron had signed an agreement in September 2025 to buy a 51% stake for 818 million shekels, but withdrew from the deal in July of this year due to anticipated regulatory hurdles from the Competition Authority.

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