Authorities-owned Rafael Superior Protection Methods is shopping for 16,000 sq. meters within the Cosmopolitan 1 undertaking in Tel Aviv’s Hassan Arafa district for NIS 521 million. The workplace area will grow to be the corporate’s major improvement middle.
As reported two weeks in the past, Rafael will obtain the same sum from the federal government for vacating the Giva advanced within the east of Tel Aviv as a part of the plan for vacating military bases and safety installations in high-demand areas.
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The Cosmopolitan undertaking is being developed by Acro Actual Property, Phoenix Monetary, Yuvalim, Metropolis Boy and Shabbat Moshe. The undertaking might be inbuilt phases: Cosmopolitan 1, the place Rafael has acquired the workplace area for its new improvement middle; and Cosmopolitan 2, which can embrace about 175,000 sq. meters of workplace and industrial area and 500 residential items on 17 dunams (4.25 acres) of land. The undertaking is managed by Waxman Group (WXG) engineering firm.
Work has already begun on Cosmopolitan 1, and in accordance with Acro’s 2024 monetary report, building might be accomplished by the tip of 2030. Work will start on Cosmopolitan 2 in 2030 and be accomplished in 2034. The undertaking is situated close to the Carlebach mild rail station, the place the Pink Line and deliberate Inexperienced Line will intersect.
Two Metro stations might be constructed close to the Hassan Arafa district, one on the M1 line and the opposite on the M2 line. Accordingly Rafael has solely acquired the proper to make use of 120 parking areas as a part of the deal, for 25 years with an choice for an extra 25 years.
Rafael stated, “The corporate is rising at a really quick tempo, and its exercise in improvement facilities throughout the nation has elevated considerably yr after yr. On the improvement middle in Tel Aviv, we offer an answer for one of the best minds who select to work for Rafael and dedicate their analysis work to the safety of the State of Israel. In cooperation with the Israel Land Authority, we’ve got organized an settlement to vacate the Horodotsky advanced (in east Tel Aviv), and we’re investing the proceeds within the buy of area that may allow the enlargement of exercise within the middle.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 25, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
