Advs. Amalia Meshi, Naftali Nir, Michal Sagmon-Cohen and Lareine Khoury represented Azorim Group and Ofer Investments in a rental agreement, in which Noble Energy will rent office space from Azorim for a period of 10 years, which includes 9 floors of offices and 13,000 sq.m. in the Herzliya Hills Complex.
Advs. Amalia Meshi, Naftali Nir and Nir Rodnitzky represents Azorim Construction (1965) and the Gabbay Group in the purchase of 45 acres of land in Kfar Shalem area in Tel Aviv for the purpose of building approximately 1,300 - 1,500 housing units as well as commercial space. In exchange for the land, Azorim and the Gabbay Group will pay the owners of the land 30% of the proceeds from the sale of the apartments and 38% of the proceeds from the commercial areas in the project. The project will be one of the largest construction projects in Tel Aviv, with an estimated value of NIS 3 billion.
Advs. Hagit Bavly and Eyal Ben Itzchak represented Harel Insurance Investments and Financial Services Ltd. and Migdal Insurance and Financial Holdings Ltd. In a signing of an agreement with the Shoval Management and Investments firm, dealing with the management of property and offices for rent in high-end Tel Aviv towers, for the lease of offices with a total area of 10,000 sqm in one of the two Alon Towers, owned by the insurance companies. Shoval will pay a total rent of NIS 1.1 million for the offices, parking and additional areas.
Advs. Daniel Abarbanel, Adam Spruch and Michael Adler represented the Azrieli Group in a claim which was ultimately decided in favor the Azrieli Group to approve the construction of the "Rishonim" mall in Rishon Lezion. The National Planning and Building Committee considered an appeal that was filed by merchants from the city center and certain residents who opposed the construction of the mall. The Committee rejected their appeal stating that: "these plans are vital for the city's development".
The building plans, which according to the Azrielli Group are valued at NIS 700 million, include two towers of approximately 37 thousand square meters comprising 12,500 square meters of commercial space and 24,000 square meters of office space.
Yigal Arnon & Co. is ranked 'Tier 1 – Leading/Dominant' in 15 practices: Corporate/M&A, Hi-tech, Capital Markets, International Commercial Law, Class Actions, Commercial Litigation, Banking & Finance, Real estate, Construction, Project Finance, Energy & Infrastructure, Tax, Administrative Law, Environment, Insurance, Local Authorities; and is ranked 'Tier 2 - Leading' in 4 practices: Competition/Antitrust, Restructuring & Insolvency, Telecommunications, and Intellectual property.