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March 22, 1996 - Image 69

Resource type:
Text
Publication:
The Detroit Jewish News, 1996-03-22

Disclaimer: Computer generated plain text may have errors. Read more about this.

entertainment environment. He
says a mall's success is not only
dependent on its design and
maintenance but also on find-
ing the right stores, putting
them in the right location and
helping merchants adopt West-
ern ways of merchandising.
The developers have decided
to place special emphasis on
fashion. "The mall is set to be-
come the Fashion Boulevard of
Israel. Retail tenants were cho-
sen to provide the Israeli public
with the latest and the best of
Israeli and international fash-
ion," Mr. Azrieli says.
Among the fashion chains
that have rented space are Man-
go, the Gap, Naf Naf, Benetton,
Polgat, Rosh Indiani, Castro,
Stefanel and international
brand names from Italy and
France.
There will also be a wide
range of other shops, like Marks
and Spencer, and food outlets
including Burger King, Burger
Ranch, Apropo and others.
Mr. Azrieli says the shopping
center is almost fully leased. He
refused to disclose the price for
space.
One year after the commer-
cial complex opens, the circle of-
fice tower will be occupied and
in accordance with demand for
office space, occupancy of the tri-
angle and square towers is ex-
pected to begin in the year 2000.
The three office towers are ex-
pected to employ about 15,000
people.
Mr. Azrieli forecasts that the
Shalom Project will be the
focal part of Israel's business
center after its completion.
The commuter train will oper-
ate and stop at the station,
while the Derech Hashalom
Highway will be expanded to
eight lanes.
Apart from the project's ex-
clusivity, development of the
Shalom Center is expected to al-
ter the urban landscape of Tel
Aviv, and eventually change it
into a mini-Manhattan.
The main idea behind the
municipality's initial plans for
the area was to provide office
space for the many businesses
that are currently situated in
private houses and apartments
throughout the city. Once these
buildings are evacuated, the
municipality will be able to go
ahead with plans to demolish
them and build high-rise office
and residential buildings in
their place.
Along Derech Petah Tikva
Road, another five or six retail
and office projects will be con-
structed in the future. "The pro-
ject is expected to do to Israel
what the Rockefeller Building
did to New York at the start of
the century," Mr. Azrieli says.
"It will be the nucleus of Tel
Aviv's new and modern shop-
ping and office center." ❑

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