Israel Canada, a prominent real estate investment and development company, has acquired a prime site in central Tel Aviv for NIS 443 million. The 2.4-dunam (0.6-acre) site, located at 4-6 Dubnov Street, was purchased at an Israel Land Authority auction. This site, currently a parking lot, will be transformed into a 45-floor tower comprising 170 residential apartments, office spaces, and various commercial facilities.
The planned development includes 1,600 square meters of hotel space, 2,800 square meters of commercial space, 11,600 square meters of offices, and 1,500 square meters of public space.
The project is situated in a prestigious area close to Sarona and the military headquarters compound, adding significant value to the property. Despite initial objections from the Ministry of Defense regarding the building’s height, the plan for the tower has been approved.