Rami Levy Backs 130 Million Shekel Commercial Center Project in Arad
GT Real Estate secured a building permit for the 130 million shekel GT Center Arad project, backed by businessman Rami Levy, with completion expected in 2028.
GT Real Estate has received a building permit from the local planning and construction committee of Arad for a new commercial center named GT Center Arad, with an investment of 130 million shekels. Businessman Rami Levy is behind the venture, holding a 50% stake in the real estate company involved in the 15-dunam project.
Construction is set to begin soon, with the opening and occupancy scheduled for the first half of 2028. Located in the industrial zone at the western entrance to the city, the complex will feature commercial spaces, restaurants, shops, and leisure areas to serve Arad residents and surrounding communities. The company is currently in advanced negotiations with leading retail chains for leasing space.
This project follows recent corporate expansion moves by Rami Levy, including the acquisition of Rosh Pinna Mall from Ashtrom Properties three months ago and building permits secured in August for commercial and residential complexes in Rosh HaAyin and Mishor Adumim, totaling 225 million shekels in investments.
Gabriel Trabelsi, Chairman and Owner of GT Real Estate, stated that obtaining the building permit in Arad reflects the company's ongoing expansion and strategic focus on developing commercial centers in high-potential locations.
