Shufersal's plan to increase construction rights in "Hazomet" mall in Kfar Saba was approved

Shufersal's plan to increase construction rights in the intersection mall owned by the company in Kfar Saba was approved this week by the local planning and construction committee. According to the approved plan, instead of the mall, a commercial and office project will be set up.
The Junction Mall is a high yielding property owned by Shufersal, which includes 6,500 sq.m. of built-up area, 2,500 sq.m. of which is used for a Shufersal store. The property is located at the corner of Nativ HaAvot and Derech Hasharon streets near the Raanana Kfar Saba South intersection, close to the Raanana South railway station and the future metro line station, along with a fast city project. The plan includes the addition of floors and areas for the construction of a commercial tower and a 26-storey office area of ​​35,000 square meters, and an additional 20,000 square meters of underground space.
Kfar Saba Mayor Rafi Sa'ar said after the confirmation that "many companies choose to determine their abode in Kfar Saba, including the Information Technology segment, Sudhester, Trakes Technologies, and we urge more companies to join."
The plan joins an office tower that builds a group of buildings above the Sharona Center in the rear of the Junction Mall. The tower of the building will comprise 17 stories and 40,000 square meters. The construction work is carried out by Electra Construction.
Shufersal Real Estate has 90 rental properties worth NIS 2.5 billion, 70 of which are stores leased to Shufersal branches, and another 20 are rental properties, which usually include commerce, offices and clinics, with the commercial part of Shufersal being an anchor shop and other businesses alongside it. Promising building plans, such as a project that is currently being completed at the Kurdish junction in Kiryat Motzkin, which includes 11,000 square meters, 2,000 square meters of which is used for the Shufersal store. Another project in which a plan is being promoted is the Zahrin project in Ra'anana, which the company has started in partnership with Seashore, which includes 40,000 square meters of commercial and office space and 30,000 square meters of underground space. In addition, in programs promoted by the Company in Nahariya and Be'er Sheva, which will include a residential component, the Company is working to separate the commercial and office divisions from the residential division, and the residential part to realize the sale when the plan is approved.