Azrieli Group has laid the cornerstone on a new NIS1.5bn ($401m) office building, the Sarona Tower, in Tel Aviv, Israel.
Located in Tel Aviv’s southern Kirya business district, the 200m tall, 50-storey building will feature 125,000m² of office space and include a three-story 11,000m² floor mall. The building will also include a seven-storey underground car park to accommodate 1,600 vehicles.
Azrieli purchased the land from the Israel Lands Authority for NIS522m ($139m) in 2011.
The tower will be built at the eastern end of the Sarona compound near Menachem Begin Road and Kaplan Street, diagonally opposite the three existing Azrieli towers.
Architect Moshe Zur partnered with David Azrieli Architects Firm to design the building.
According to the Jerusalem Post, the architects are using simple geometry to create the effect that the building is facing the sea, which lies almost 3km to the west.
The tower will be located half a block south of the company’s Azrieli Center project.
After completion in 2016, the Sarona tower will be the country’s second tallest building, behind Ramat Gan’s 244m, 68-storey Moshe Aviv Tower.