New Skyscrapers to Raise Ramat Gan’s Tax Base

Three new skyscrapers—120, 88, and 77 stories respectively—have been approved for Ramat Gan by district planners, a project that promises to more than double the city’s income from property tax.

The Israel Diamond Exchange Triangle Plan, as it is called, would vastly increase the amount of office, commercial, residential and public space. Currently, the area has 1.1 million square meters in built-up space; the plan envisages 2.6 million square meters in additional construction, making a total of 3.7 million square meters, according to Globes on Tuesday.

The outline plan for the Diamond Exchange area, designed by architect David Galor, is now in the process of being deposited at the District Planning and Building Commission.

The plan aims to transform the Diamond Exchange area, currently “functioning less than optimally at the municipal and metropolitan level” into “the most prestigious and advanced business district in Israel.”

Ramat Gan Mayor Carmel Shama-Hacohen told Globes last week that in 10 years, the Diamond Exchange area will look like Manhattan.

Shama-Hacohen offered a glimpse of his personal involvement in the project: “I’m very involved. The developers come to my office with the professional staff. I haven’t studied planning, but my proposals are usually accepted. I think outside the box. I’ve been to Paris four times. I even get involved in the design of facades. Not long ago, I made a developer replace an architect. There won’t be any of those nondescript buildings you see between Gedera and Hadera.”