Major Ramat Gan Residential Project Worth Hundreds of Millions Shekels Launched

A significant urban renewal project, dubbed Park Tower, is underway in Ramat Gan, Israel, following the signing of an execution agreement between companies Anav and Ashtrom Residential with Shikun & Binui Solel Boneh. The project, located at the intersection of Aba Hillel and Ha'Mabdil streets in the sought-after Ha'Gafen neighborhood, is valued at approximately 230 million shekels (about $62 million USD).

The development will feature a 34-story tower comprising 180 residential units above a commercial street level. The tower, designed by Kahana Architects, will offer apartments ranging from two to five rooms, along with mini-penthouses and penthouses equipped with private swimming pools. Residents will benefit from sun balconies, private parking in an underground lot, and shared amenities including a gym, resident lounge, and dedicated rooms for bicycles and strollers.

Park Tower replaces three older buildings, each three to four stories high, which were demolished about a year ago. The project is strategically situated with views of the Yarkon Park, proximity to the Ayalon Mall, and easy access to Highway 4 and the Ayalon Highway. Occupancy is anticipated in January 2030, and apartment sales are currently in full swing.

Company representatives expressed enthusiasm for the project. Eran Pri, VP of Planning and Engineering at Anav, highlighted the complexity of the development in a prime Ramat Gan location and praised Shikun & Binui Solel Boneh's extensive experience. Assaf Inbar, CEO of Shikun & Binui Solel Boneh, emphasized the project's luxury, innovation, and contribution to Ramat Gan's urban landscape, noting it aligns with the company's expansion in the high-end residential sector. Yossi Greens, CEO of Solel Boneh Residential, expressed pride in the win, citing it as a testament to the company's professional capabilities and dedicated workforce.