950 Million Shekel Investment: Mega-Project to Transform Ashdod
A group of developers is launching the "Metropol District" project within the "Metropol Ashdod" complex, spanning approximately 15 dunams with an estimated investment of 950 million shekels. The project will feature a mix of employment, commercial, hotel, and residential spaces.
The "Metropol District" project is launching in the "Metropol Ashdod" complex: the Bonim Nadlan group, HaHevra LeMimush Karkaot, Shaked Nadlan, Capital Group, and Ashtrag Malonot have announced the promotion of a project with an estimated investment of about 950 million shekels. The project is expected to span about 15 dunams and will include a combination of employment, commerce, residential, and hotel spaces.
According to the developers, the cost of the land is estimated at about 150 million shekels, while the expected investment in development and construction stands at about 800 million shekels more. The project will be designed by the "Yaski Moran Sivan" architectural firm. Employment spaces are planned in the center of the complex, alongside commercial areas, hotels, and residential towers. According to the plan presented, the complex is expected to create an urban environment that combines various uses.
The developers note that among all the developers operating within "Metropol Ashdod," the group holds the largest area in the complex, which it defines as strategic. According to them, the land has been promoted over the years as part of the activity to improve and develop it. "Metropol District" is part of the "Metropol Ashdod" plan, which spans more than a million square meters with an estimated investment of about 10 billion shekels. The plan includes mixed-use and is intended to attract high-tech companies, large corporations, and businesses to the city.
According to estimates, "Metropol Ashdod" is expected to generate about 50,000–60,000 new jobs, with an emphasis on technology, research, and engineering fields. Several anchors are already operating in the complex, including the Assuta Public Hospital, the Sami Shamoon College of Engineering, the Ad Halom–Metropol train station, the BIG complex, and technology companies.
On behalf of the developer group, it was stated:
"We identified the enormous potential of Ashdod and the Metropol plan long before it became the most talked-about name in Israeli real estate. The fact that we currently hold the largest and most impressive area is not accidental – it is the fruit of a long-term vision and a consistent strategy for locating land in the growth centers of tomorrow."
It was further stated: "The 'Metropol District' project will harmoniously connect employment, commerce, residential, and elite hotels, and will turn it into the central growth engine of Ashdod."
Behind the project are several companies operating in the fields of real estate, land, and hotels. Shaked Nadlan, owned by developer Israel Shakedi, was founded in 2014 and deals with residential development, land improvement, and urban renewal. Capital Group was established in 2001 by real estate developer Dan Herzog and is currently managed by Alon Herzog. HaHevra LeMimush Karkaot was established in 2011 by Benny Bernstein and operates in the field of locating and promoting land. The Bonim Nadlan group, owned by attorney Pinchas Palach, deals with real estate improvement and initiating projects. Ashtrag Malonot, owned and managed by Tal Sela, serves as the hotel arm of the developer group.
