63% of BIG Glilot office tower already leased

The second piece of Glilot Big Fashion is scheduled to be filled soon. The Allied Office Tower, which was built by Allied Real Estate, is expected to obtain the consent of the tenant to occupy the building at the beginning of next month. 25 % of the office tower will be occupied as soon as it is opened.

The 44 -storey tower rises with a 44 -storey offices with its large shopping partner (Tase: Big), the largest shopping center in the country, which opened last week. Big and Allied received a construction permit to build two desktop towers, although only one of them was built.

The Israel office market has recently suffered a significant decrease in demand and low rents, especially in the foreign areas of Tel Aviv. This is due to the technology industry crisis, and higher interest rates.

But the offices market problems do not see them negatively affect the Allied Office Tower. Allied has already managed to market 63 % of the area – more than 50,000 square meters. According to the data obtained by “Globes”, there are drafts signed for additional contracts, which will increase the percentage of areas that are marketed to 70 % of the tower office spaces. The final work is currently carried out on the tower, including the completion of work in the offices in which the contracts have already been signed some time ago. It is estimated that it will be possible to reach at least 85 % by the end of the year.

Prices: 135 nis per square meter for offices with completion

According to the data obtained by “Globes”, the office space in the Allied Tower is marketed at a price of 90 to 110 NIS per square meter, before completing the work and interior design of the office. These prices are far from the peak of the office of the office sector in Tel Aviv during the postpartum boom, when the prices reached 200 NIS per square meter, and even less than the current prices in the most areas of Tel Aviv, which range from 130 to 150 NIS 150 NIS. In the giant Google deal in the TOHA2 Tower in the Central Tel Aviv, for example, the price was 160 NIS per square meter, for an area of ​​60,000 square meters.

However, the rents in the Allied Tower are higher than the current rents of office spaces in the circles outside Tel Aviv – and Big Fashion Glilot, between Tel Aviv and Herzliya, was present for those who did not want to enter the big city. It is estimated that the rents in the Allied Tower are 135 NIS per square meter, after completing the work and other additions.

Most of the tenants in the tower are large institutions, which will occupy several floors in the tower. Each floor covers a total of up to 2100 square meters, and among the companies that have already signed rental contracts in the tower is Fintech Payoneer, which rented 12,000 square meters on six floors, and Spyware Company NSO, which rented about 7500 square meters.

Among the other tenants who have signed rental contracts in the tower are the joint work area in the Fattal's Rooms, Nawi Brothers Group, Non -Banking, BAITVEGAG Real Estate Company, as well as Big itself, Allied partner in the project, and its sub -property AFI.

The tower will, among other things, will present a fitness center, a lounge and Bobby (managed by Fattal), a conference hall of up to 150 people, an area of ​​900 square meters for companies for companies, an open roof overlooking the sea, biking rooms, motorcycle shipping stations, and more.

The additional tower will not be promoted at this time

The occupancy numbers of the Allied Tower are impressive, and come in contrast to the negative direction prevailing in the offices market. In most of the new projects in the office sector at the present time, developers are struggling to market all space.

But although the plan has been approved allows additional rights, including building a second office tower in the project, Big mentioned that it is not intended to build it at this stage, but at a later date, when the market conditions are considered improved.

It was published by Globes, Israel Business News – En.globles.co.il – on March 9, 2025.

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