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Melisron Advances Plans for Major New Shopping Mall in Jerusalem Challenging Azrieli
Melisron is advancing plans to build a 35,000-square-meter shopping mall in Jerusalem's Arnona neighborhood, marking its first entry into the capital's market. The project aims to compete with Azrieli Group's Malha Mall and addresses a local shortage of large regional malls.
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What happened
- 01Melisron plans a 35,000 sqm mall in Jerusalem's Arnona, entering the capital's market for the first time.
- 02The company bought 75% of the land for 247.5 million shekels, with conditional payments pending planning approval.
- 03The new mall aims to compete with Azrieli's Malha Mall, Jerusalem's largest shopping center at 44,000 sqm.
- 04Melisron withdrew from acquiring Gold Mall in Rishon Lezion due to competition authority concerns.
- 05Jerusalem currently lacks a major regional mall besides Malha, Ramot, and Hadar malls.
- 06Jerusalem city officials see the mall plan as positive but require further planning examination.
The land was acquired from the Neuman brothers for 247.5 million shekels, with further payments tied to planning approvals. Jerusalem's municipality views the plan positively but requires additional review.
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