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Israel's Tallest Skyscraper, Beyond Tower, Opens in Givatayim

Ongoing story · 2 updates
Translated & summarized from Channel 9 by baba
The story · English

The Beyond tower, a 78-story, 320-meter skyscraper in Givatayim, is set to begin occupancy on October 4th, making it Israel's tallest building upon opening. This title will soon be surpassed by the Azrieli Group's Spiral Tower in Tel Aviv, which will stand at 355 meters upon completion.

Beyond is owned by the Tidhar construction company, Union of George Horesh, and Keren Kayemeth LeIsrael's subsidiary Himnuta. Located in Givatayim's business district near Ayalon Highway, it is less than 300 meters from the Tel Aviv Savidor Central train station. Approximately 70% of the office space has been leased, an increase from 59% in August. The complex features a 78-story office tower and a planned 60-story residential tower, both situated above an eight-story, 20,000-square-meter commercial base.

The project, which began in 2016 with the sale of 78% of the land for 256 million shekels, commenced construction in 2019. Tidhar now values the project at 3.03 billion shekels. Notable future tenants include the law firm Meitar, leasing 30,000 square meters for 25 years at 150 shekels per square meter monthly, and mobile gaming company Moon Active, taking 22,000 square meters for 10 years.

Despite its opening, the tower is not yet fully occupied. Experts cite the walk from the train station as a drawback, as there are no light rail connections nearby. Competition from other new towers, such as Toha 2, Mivne's Hasolelim, and Azrieli's Spiral Tower, also contributes. However, demand is not considered weak, with Beyond's occupancy expected to be a matter of time.

The municipal tax for the Beyond tower is estimated at 40 million shekels, which will increase Givatayim's municipal revenue by 14.5% in 2025.

Read the original at Channel 9
Full coverage · 2 outlets
First: Globes · Sep 29

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Unrated 2
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