Ashdod Star Complex Expansion Approved, Adding 1,850 Housing Units

The Southern District Planning Committee has approved a plan to significantly expand the Star Ashdod complex, a project led by Ari Real Estate, controlled by CEO Tzachi Abu. The expansion will add approximately 1,850 housing units to the 107-dunam site. The plan also includes rights for about 69,000 square meters of commercial space and 66,000 square meters for employment areas. Of the total housing units, up to 450 will be designated for special rental housing. The Star Ashdod complex is Ari Real Estate's leading income-producing property, valued at approximately 1.3 billion shekels, with projected NOI of 73 million shekels for 2026. The expansion aims to transform the existing complex into a mixed-use district incorporating residential, commercial, and employment zones, potentially including assisted living or student dormitories. Residential buildings along Ben Gurion Boulevard and Weizmann Street will reach up to 25 stories, with additional buildings ranging from 7 to 9 stories. Tzachi Abu holds a 46.4% stake in Ari Real Estate. The company also owns shopping centers in Nahariya and Eilat, and MYMALL in Limassol, Cyprus. Additionally, a subsidiary, S.L.S. Shipyards Ltd., has partnered to plan and build a gas-powered electricity plant in the Menashe Regional Council area. Abu stated that the committee's decision will upgrade the existing successful complex and make the entire district a magnet for Ashdod residents, significantly boosting the complex's value and Ari Real Estate's future income.