Azrieli Group Opens Fifth Palace Senior Living Residence - IN Rishon LeZion

 The Azrieli Group, led by CEO Dana Azrieli, has officially opened Palace Azrieli Rishon LeZion, the fifth senior living residence operated by the Palace network, following an investment of approximately NIS 590 million.

The opening event brought together Azrieli Group executives and board members, residents, business partners, architects and designers involved in the project, marking the formal launch of the new residence and another stage in the expansion of the Palace network across Israel.

40% of Apartments Sold Before Official Opening

Demand for the new residence was evident well before its formal opening.

According to the company, approximately 40% of the apartments had already been sold by the end of the second quarter of 2026, prior to the official launch.

Palace Azrieli Rishon LeZion rises 30 stories and contains 274 residential units. It joins Palace residences in Tel Aviv, Ra'anana, Modi'in and Lehavim.

With the opening of the new property, the Palace network now operates more than 1,400 residential units across Israel.

A Comprehensive Senior Living Environment

The new residence was designed as an integrated living and services complex for older adults, combining private residences with healthcare, recreation, culture and hospitality facilities.

The development includes:

• A medical wing
• Swimming pool
• Sports and spa center
• Cultural and leisure areas
• Restaurant and café
• Commercial center
• Rooftop overlooking the Mediterranean Sea

The rooftop is designed to host events, performances and activities for residents, while the commercial center provides additional services within the complex.

Chef Israel Aharoni to Lead Culinary Experience

Food and hospitality are a central component of the residence's lifestyle offering.

The culinary and gastronomic program at Palace Rishon LeZion will be accompanied by renowned Israeli chef Israel Aharoni, who will contribute to the development of the site's dining concept.

The company says the emphasis on culinary experiences reflects a broader approach to senior living that places lifestyle, social interaction and quality of life alongside housing and medical services.

Tal Amit Appointed General Manager

The new residence is managed by Tal Amit, who holds a master's degree in gerontology and was one of the founders and managers of Palace Lehavim.

Amit brings experience in senior living management and in developing communities designed to address the changing needs of older adults.

Senior Living Market Expands

The opening comes amid continued expansion of Israel's senior living market, driven in part by rising life expectancy and the growing population of older adults.

Demand is also being shaped by an increasing interest in housing models that combine independent living with access to healthcare, community activities, culture, leisure and professional services.

The sector is increasingly moving beyond the traditional concept of residential care toward integrated communities designed to support independence while providing a broad range of services.

Dana Azrieli: “A Significant Demographic Transformation”

Dana Azrieli, CEO of the Azrieli Group, said the project reflects the group's long-term commitment to the senior living sector.

“Israel is undergoing a significant demographic transformation, and we believe senior living has a central role in responding to the changing needs of the older generation,” Azrieli said.

“The opening of Palace Rishon LeZion is part of our long-term commitment to continue investing in this field and expanding the network, while creating high-quality communities that enable residents to enjoy independent lives rich in content and activity, in an environment that provides security, belonging and quality of life.”

She added that the project represents more than the construction of a new residential building.

“For us, it is not only about establishing a new home, but about continuing to build meaningful social infrastructure for future generations,” she said.

Iris Cohen, CEO of the Palace network, said the new residence reflects the company's broader philosophy of senior living.

“Palace Rishon LeZion embodies the senior living concept we are leading — a combination of high-quality housing, advanced medical services, a rich community life and a broad range of services,” Cohen said.

“We are proud to expand the network's activities and continue providing our residents with a living environment adapted to the changing needs of the older generation.”

The opening of Palace Azrieli Rishon LeZion further strengthens the Azrieli Group's presence in Israel's senior living sector and expands Palace's geographic footprint with another large-scale residential community designed around independence, healthcare, hospitality and social engagement.