Tel Aviv's Fourth District Skyline Transforms as Three Mega-Projects Near Completion

Tel Aviv's Fourth District, bordered by Ibn Gabirol Street, the Yarkon River, Ayalon Highways, and Shaul HaMelech Boulevard, has long stood as a primary hub for urban development and renewal. Currently, three landmark residential projects are reaching completion, dramatically transforming the skyline of both the district and the city itself.

The Major Towers Reshaping the Skyline

These three developments include the DUO towers by Africa Israel Residences, the Infinity tower by the Hagag Group—both situated in the historic "Somel" compound along Ibn Gabirol Street—and the Kikar HaMedina towers rising in the center of the famous square. While numerous TAMA 38 urban renewal projects continue to advance across the district, these three massive complexes are uniquely prominent and heavily impact the surrounding urban landscape.

DUO TLV: Sales Slowdown Amid Rising Prices

Developed by Africa Israel Residences, the DUO TLV project covers approximately 10 dunams at the intersection of Ibn Gabirol, Arlozorov, and Ben Sarok streets. The development features two 54-story residential towers containing 668 housing units, of which 510 were earmarked for marketing, alongside three commercial floors. The land historically housed an Arab village prior to Israel's establishment, leading to years of complex negotiations and resident relocations before construction could finally begin in late 2021.

According to the company's financial reports, construction reached 87% completion by the end of the first half of 2026, with full completion and marketing projected for 2027. Out of 510 marketable units, 372 have been sold, leaving 138 apartments still on the market. During the first half of 2026, the company sold 12 apartments generating approximately ₪111 million. This follows a broader market slowdown, contrasting sharply with the 202 units sold in 2021 and 127 in 2022.

Pricing within the DUO TLV project has continued to climb steadily. The average apartment price during the first half of 2026 approached ₪11 million, with the average price per square meter reaching roughly ₪71,000. This represents an increase of about 10% compared to 2023, when the average price per square meter stood at ₪64,500. Total sales revenue for the project has reached approximately ₪1.338 billion.

Infinity Tower: Rental Guarantees and Creative Financing

Developed by the Hagag Group, the Infinity project spans roughly 3.1 dunams at the corner of Ibn Gabirol and Arlozorov streets. Originally launched as a purchasing group in 2015, the developer transitioned the project into a standard entrepreneurial venture in 2020. The complex comprises a 53-story residential tower alongside a six-story textural building above commercial space, totaling around 278 housing units.

Construction is slated for completion in the fourth quarter of 2026, with overall marketing expected to conclude by mid-2027. By the end of the first half of 2026, construction completion stood at over 86%, with 61 apartments remaining unsold. To stimulate sales in the current economic climate, the Hagag Group recently launched a specialized promotional campaign allowing buyers to pay ₪1 million upon contract signing, with the remainder due three years after occupancy, interest-free and unlinked. Additionally, the developer guaranteed rental payments for investors, promising at least ₪10,000 per month for the first two years on a 70-square-meter two-room apartment.

Transactions during 2025 averaged roughly ₪14 million per unit, while the single apartment sold in the first half of 2026 reached ₪17.4 million, reflecting ₪76,271 per square meter. Average prices per square meter have risen from ₪55,705 in 2023 to ₪58,390 in 2024 and ₪67,337 in 2025.

Kikar HaMedina Towers: Landowner-Driven Completion

Spanning a massive 78 dunams—including 40 dunams designated for a public park—the Kikar HaMedina project features three luxury spiral towers (two 40-story towers and one 37-story tower) housing 453 apartments, alongside a school and commercial center. After decades of stalled plans and legal hurdles, the grandiose project obtained its building permit at the end of 2022 and is scheduled to receive its occupancy permit (Form 4) in early 2027.

Because the development is managed by a private purchasing group comprising approximately 250 landowners, standard public stock exchange disclosures do not apply. Adi Gazit, CEO of Barakat Finance—which provided over ₪2 billion in financing alongside Clal and Migdal—noted that the project holds no unsold developer inventory. "All apartments are already allocated to the owners, who are landowners and their heirs, some holding rights for decades," Gazit explained.

Recent transactions recorded on Madlan show 140-square-meter four-room apartments selling between ₪9.58 million and ₪10.63 million, translating to approximately ₪68,400 to ₪75,910 per square meter. Market estimates indicate that average prices generally range between ₪70,000 and ₪80,000 per square meter, with penthouses reaching up to ₪25 million and entry-level units starting around ₪8.5 million. As these massive developments complete construction and welcome hundreds of new households, market experts anticipate a profound revitalization of the entire Fourth District.