Israel is set to get its own “Empire State Building” - a local planning commission in Ramat Gan has authorized plans for the construction of a 100 story tower on the Ramat Gan-Tel Aviv border.
The project is projected to cost as much as NIS 1 billion ($350 million) when completed.
The plan has yet to be approved by planning commissions in Tel Aviv, and a regional Dan Region commission must approve it as well. The building would be constructed on a lot on Begin Boulevard in Tel Aviv, which is currently owned by the Tel Aviv Municipality and is currently being used as a parking lot.
The lot is set to be auctioned to private parties, one of which submitted plans for the tower.
The building will contain 83,000 square meters of space, which will be used for offices, a hotel, living quarters, and shopping and entertainment. The shopping area will include 675 stores, according to the plan.
If built to the full 100 story height, the tower would eclipse other planned skyscrapers, including an 80-story building already under construction down the road on Begin Boulevard, on land recently vacated by the Defense Ministry, which is moving many of its operations to Be'er Sheva.
No timetable was given for construction of the tower, but if the approvals are given and the lot is sold to developers in the coming months, the building could be put up within five years, industry officials said.