Ramat Gan Approves Massive Redevelopment With Dozens of New Skyscrapers

Ramat Gan is set to undergo a significant urban transformation with the approval of numerous new high-rise buildings, many reaching up to 100 stories, in its historic Stock Exchange district. This initiative aims to bolster the area as a major business hub, mirroring similar developments in neighboring Tel Aviv. The master plan, initially approved in February 2022, envisioned adding approximately 3.7 million square meters of construction, including vast spaces for employment, commerce, public services, residential units, student dormitories, and hotel rooms.

Several large-scale projects are already underway or in advanced planning stages, reinforcing the Stock Exchange area's status as a central business district in Israel. These include the "Vertical City" project, which will feature three towers, the tallest reaching nearly 400 meters, potentially making it Israel's tallest building upon completion. Other significant developments include the "Eurocom House" by Israel Canada, the "Exchange Towers" by Azorius, and "Creation Tower 2" by Ashtrom and Mivtach Shamir.

A key challenge addressed by the urban plan is transforming the district from a daytime-only employment zone into a vibrant, mixed-use area active around the clock. To achieve this, the plan incorporates over 2,000 residential units, student dormitories, and hotel rooms, alongside enhanced public spaces designed for pedestrians and cyclists. The goal is to foster a lively atmosphere with cultural, entertainment, and leisure activities, making the area more appealing in the evenings and nights.

Ramat Gan Mayor Carmel Shama-Hacohen highlighted the strategic location of the Stock Exchange district, emphasizing its excellent accessibility via heavy rail and light rail, which, combined with business strength, positions it as a leading economic center in the Gush Dan region. The city administration believes the integration of new construction with improved transportation will solidify its role as a primary urban and economic focal point.

Despite the ambitious plans, questions remain about the demand for all the projected office space. However, industry sources express optimism, suggesting that even moderate economic growth should ensure full occupancy. One residential tower within the "Exchange Towers" project experienced a slight delay in occupancy due to damage from an Iranian missile during Operation "With All Your Might" but is now expected to begin occupancy in early 2026.