Shufersal Is Turning Its Jerusalem Branch Into a Huge Complex, With a 30-Floor Tower and Another 9-Floor Residential Tower

Shufersal is turning its Jerusalem branch into a huge complex
A plot of approximately 5.6 dunams, where a Shufersal branch of approximately 3,300 square meters stands, is to become a mixed complex in which, among other things, 2 buildings will be built: one of 30 floors, and another 9-floor residential tower for residential use

The plan submitted by the company Orbani, controlled by Shufersal Real Estate, was approved for deposit with the Jerusalem District Committee. According to the plan, the Shufersal commercial complex will be demolished and converted into a mixed-use complex with a total area of approximately 41,000 square meters, which will include 184 units in a 30-floor tower, and a 9-floor mixed-use building for approximately 80 rental units, employment areas and a public building.

The project will include approximately 29,000 square meters for residences, approximately 9,800 square meters for employment and approximately 2,000 square meters for commerce. The project will also include public areas of approximately 2,300 square meters.

Itzik Abarkhan, Chairman of Shufersal, and Uri Waterman, CEO of Shufersal, said: "Shufersal continues to implement the policy of improving the group's real estate assets in line with the business strategy. The Talpiot area is in an excellent location on main traffic routes and in a significant urban boom, and is expected to attract a new, young and high-quality population."

Oren Hood, CEO of Shufersal Real Estate: "The Shufersal Group is in full action in the real estate world. Property improvement is a major growth engine for a company with great potential in the real estate sector in Israel, so we are working to expand and establish our activities in this field. The plan at the Talpiot complex will allow us to offer a combination of uses that will lead to a significant improvement in residents' quality of life, together with commercial, residential and employment areas. We welcome the cooperation with the Jerusalem Municipality, which makes it possible to advance a plan for implementation on a fast timetable and at high quality."

The Shufersal Deal complex has frontage on Pierre Koenig Street, a surface parking lot and a rear frontage, and another surface parking lot on most of the building's roof. The company explained that the floors at the base of the 30-floor tower will include commercial and employment areas, and these will face Pierre Koenig Street. The floors at the base of the 9-floor building will include employment areas, while four floors will be allocated to public areas and a school. In addition, an open public space will be established at the rear of the complex. The building plan will include more than 200 units: 184 new homes and another 80 rental homes.