Gav-Yam to build government office building in Israel

WCN Editorial Team 17 Aug 2021 MIDDLE EAST BUILDINGS

Real estate firm Gav-Yam has won a tender from the Government Housing Administration to construct a government office building in Holon, Israel.

The new building with 29,000m2 of total area will constructed in Gav-Yam Holon Park and dedicated for government offices.

It will house the Ministry of Employment, the Tax Authority, the Land Registry, the Civil Court, the Ministry of Transportation, the Population and Immigration Authority, the Ministry of Absorption, and more.

Slated to be opened in the fourth quarter of 2023, the new building will be leased for 10 years for a total of $4.3m (NIS14m) per year.

In addition to this project, Gav-Yam has a significant backlog of 12 projects at a total investment of about $774.8m (NIS2.5bn).

Founded in 1928, the company has 1,030,000m2 of properties in 19 cities across the country that include 22 parks and logistics, commercial offices, high-tech centres, and industry.

Gav-Yam CEO Avi Jakubowicz said: "Gav-Yam sees a significant growth engine in the field of government campuses and winning this tender is in line with the goal that the company has set for itself, to expand its activities in this field.

“Gav-Yam Holon Park, with a total area of about 63,000 square meters (employment, commerce and industry), located at the northern entrance to the Holon industrial area, relies on good accessibility, including through many bus lines as well as the light rail and metro stations that are planned next to the park.

“The company is working to increase its activity and foothold in the Holon industrial zone, where we work in full cooperation with the Holon Municipality and its mayor Mr. Moti Sasson.

“Winning this tender will enlarge the cooperation with Government Housing Administration which exist today among other in Gav-Yam-Maman park in Lod and in the Gav-Yam Negev Park in Be'er Sheva.”

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Gav-Yam wins tender to construct a government office building in Israel. Credit: Free-Photos from Pixabay.

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