New tender for land in Ramat Gan: Municipality selling 800 sqm in the Diamond Exchange District
The Ramat Gan Municipality has published a tender for the sale of a plot in the Diamond Exchange District, with a minimum price of 32 million shekels. The Society for the Protection of Nature in Israel (SPNI) has filed a petition with the Supreme Court against the metropolitan recreation area plan in the Shefela region. Also: Donitz Brothers and Dan Real Estate have signed a memorandum of understanding for a merger deal.
Tenders
Ramat Gan Municipality launches a tender for land in the Diamond Exchange District; minimum price - 32 million shekels
The Ramat Gan Municipality has published a tender for the sale of an 800 sqm plot on HaYozma Street, designated for a nine-story commercial building. The site is located near the "Menora Tower" and opposite the EXCHANGE towers, currently serving as a municipal parking lot. The minimum price is set at 32 million shekels. The Planning Administration notes this is the first time in years the municipality is selling its own land in this area.
The sale is part of the municipality's renewal strategy for the Diamond Exchange District, following the 2022 master plan. The tender aims to foster business development and create planning continuity between the Menora and Moshe Aviv towers. Proposals are accepted until September 16.
Ramat Gan Mayor Carmel Shama-Hacohen stated: "The plot is located in a strategic spot, at the heart of the public transport network, offering a significant opportunity for developers to contribute to the district's growth."
Planning
SPNI files petition with the Supreme Court against the Shefela metropolitan recreation area plan
The Society for the Protection of Nature in Israel (SPNI) has filed a petition with the Supreme Court against the National Planning and Building Council, the Central District Committee, and the municipalities of Rishon LeZion and Ness Ziona, seeking to cancel the "Iris" metropolitan recreation area plan (TAMA 3/21/43).
The plan covers 5,400 dunams between Rishon LeZion and Ness Ziona and was approved in June. The petition argues that the final plan undermines its stated "green" objectives, as private land ownership could allow owners to restrict public access. SPNI claims its warnings regarding these issues were ignored throughout the planning stages.
Real Estate Merger
Donitz Brothers to acquire Dan Real Estate
Donitz Brothers and Dan Real Estate have signed a memorandum of understanding for a merger. Under the agreement, Donitz Brothers will acquire full ownership of Dan Real Estate, with Dan's shareholders receiving one-third of Donitz's shares. The deal values Donitz at twice the value of Dan.
Dan Real Estate holds a portfolio of income-generating assets in Tel Aviv, Holon, and Bnei Brak, alongside various urban renewal projects. The Value LBH fund, which holds 48% of Dan, will receive approximately 16% of Donitz's shares, while other shareholders will receive roughly 17%.
Yair Efrati, CEO of Dan Real Estate, commented: "This merger is a strategic move for both companies, strengthening our capabilities in development and urban renewal."
