As ‘Globes’ reported, a new 45-floor tower will be constructed on the current parking lot between Dubnov Street and Leonardo Da Vinci Street in central Tel Aviv. The 2.4 dunam (0.6 acre) site, located at 4-6 Dubnov Street, was sold at an Israel Land Authority auction to subsidiaries of Israel Canada for NIS 443 million, including development costs. The planned tower will feature office spaces and 170 residential apartments.
The site is adjacent to the National Kibbutz Movement building, designated for preservation, and is situated in one of Tel Aviv’s most prestigious areas, close to Sarona and the military headquarters compound. Despite an objection from the Ministry of Defense last year regarding the building’s height, the plan for a 45-floor tower was ultimately approved.