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April 05, 1996 - Image 55

Resource type:
Text
Publication:
The Detroit Jewish News, 1996-04-05

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

Th

SHOP page 53

eight cinemas, restaurants and
a fast-food court. Mr. Azrieli em-
phasizes that the mall will in-
clude the latest in technology in
order to create a shopping and
entertainment environment. He
says a mall's success is not only
dependent on its design and
maintenance but also on finding
the right stores, putting them in
the right location and helping
merchants adopt Western ways
of merchandising.
The developers have decided
to place special emphasis on fash-
ion. "The mall is set to become
the Fashion Boulevard of Israel.
Retail tenants were chosen to
provide the Israeli public with the
latest and the best of Israeli and
international fashion," Mr. Azrieli
says.
Among the fashion chains that
have rented space are Mango, 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 includ-
ing 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 commercial
complex opens, the circle office
tower will be occupied and in ac-
cordance with demand for office
space, occupancy of the triangle
and square towers is expected to
begin in the year 2000. The three
office towers are expected to em-
ploy about 15,000 people.
Mr. Azrieli forecasts that the
Shalom Project will be the focal
part of Israel's business center af-
ter its completion. The commuter
train will operate and stop at the
station, while the Derech
Hashalom Highway will be ex-
panded to eight lanes.
Apart from the project's exclu-
sivity, development of the Shalom
Center is expected to alter the ur-
ban landscape of Tel Aviv, and
eventually change it into a mini-
Manhattan.
The main idea behind the mu-
nicipality's initial plans for the
area was to provide office space
for the many businesses that are
currently situated in private
houses and apartments through-
out 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-
s tructed 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 shopping and office
center." ❑

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$110 down I $2000 don I $3000 down

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55

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