35-Story Tower and Historic Preservation Approved in Ramat Gan's Stock Exchange Complex

The Tel Aviv District Planning and Building Commission has approved a plan to deposit for public review a proposal for a 35-story tower for employment and commerce in Ramat Gan's Stock Exchange complex. The plan includes the preservation of the historic "Geh Geh" factory and conservation work on the home of Avraham Krinitzi, Ramat Gan's first mayor. The project is slated for a 2-dunam site at Bazraeno Street 3-5.

The planned tower will feature approximately 30,000 square meters of commercial and employment space, with designated areas for public use that will connect to the adjacent factory's planned public facilities. The "Geh Geh" factory, built in 1950, is a significant part of the industrial zone's history. Under the plan, the factory will be renovated and preserved, and will transfer to the ownership of the Ramat Gan Municipality to be used for community, educational, cultural, and welfare activities. A historical exhibition detailing the site's story and Ramat Gan's industrial development will be established within the factory, complete with signage and original artifacts.

Additionally, the plan involves the preservation of Avraham Krinitzi's house, which currently serves as a museum and venue for cultural events. Restoration of the interior spaces, renovation of the auditorium, and the installation of an elevator for accessibility are included. The plan also addresses accessibility standards, the construction of a protected underground area, and upgrades to restroom facilities.

This initiative is part of the Stock Exchange complex's renewal policy, aiming to increase employment and commercial space while incorporating public amenities and preserving historical structures. Erez Ben-Eliyazer, Tel Aviv District Planner at the Planning Administration, stated that the plan is crucial for creating a central employment hub near public transportation while preserving Ramat Gan's rich industrial heritage. He noted it implements the master plan for the complex, which mandates significant public benefits in exchange for increased construction rights for employment.

Ramat Gan Mayor Carmel Shama-Hacohen emphasized the Stock Exchange complex's unprecedented development, aiming to establish it as a leading international business center. He highlighted that alongside new office towers, the development will bring substantial public benefits, with the preservation of the factory and renovation of Krinitzi's house exemplifying the principle of building the future without abandoning the past. The city is committed to preserving its heritage while enhancing public spaces and quality of life.

Other projects in the Stock Exchange complex include "Vertical City," the Icon Tower, and the Exchange project. Alongside new towers, infrastructure and public space upgrades, including wider sidewalks and improved pedestrian and public transport access, are underway to enable day and evening activity in the area. BST won the first phase of the Vertical project for NIS 1.1 billion.