Hagag Group has introduced that the Tel Aviv District Planning and Constructing Committee has accredited development of its luxurious lodge within the Herzliya Marina, which it’s creating in partnership with Leonardo DiCaprio.
Like many earlier than him, Hollywood actor Leonardo DiCaprio has discovered the onerous means that the world of Israeli planning requires persistence. The Hagag Group (TASE: HGG) not too long ago introduced that the Tel Aviv District Planning and Constructing Committee has accredited the development of its luxurious lodge within the Herzliya Marina. It is a venture during which the well-known actor has a ten% stake, and the remainder is owned by the Hagag Group and the brothers Ahikam and Lior Cohen.
The announcement of the partnership was printed again in 2018. In April 2024, the plan was accredited for deposit, and has now been lastly accredited. One of many the explanation why the venture has taken so lengthy to realize approval has been the Hagag Group’s request to considerably improve the constructing rights for the lodge. Nonetheless, even taking this into consideration, that is an unusually lengthy interval. The rise is from 10,000 sq. meters initially, to 51,000 sq. meters on ultimate approval, which is able to enable for the development of a 14-floor lodge with 365 rooms. Building of 8,000 sq. meters of underground parking area has additionally been accredited.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 27, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
Deliberate Herzliya Marina lodge credit score: Hagag Group
