Google to pay over $30 million a year in Israel’s largest ever office rental deal
Google to pay over $30 million a year in Israel’s largest ever office rental deal
The tech giant is close to a deal that will see it pay over $300 million over 10 years for 55,000 square meters at the new ToHa2 tower currently being built in Tel Aviv
The negotiations between Google and real estate companies Gav-Yam and Amot regarding the rentel of 55,000 square meters of office space at the new ToHa2 tower in center Tel Aviv are almost at the finish line. The deal, which is expected to be signed soon, will be the largest ever of its kind in Israel, with Google to pay around NIS 105 million (approximately $30 million) a year over a 10-year period starting in 2027.
Google will occupy a third of the tower, which is located on Yigal Alon Street in Tel Aviv near to the ToHa1 tower and HaShalom train station.
The tower will have 77 floors and a total of 160,000 square meters of office space.
Google Israel headquarters are currently based at the Electra tower nearby, with the company renting a space of around 10,000 square meters. Google employs around 2,000 people in Israel and the fact that it is planning on increasing its office space five-fold in the coming years likely means it also intends to significantly grow its local workforce.
Google, Gav-Yam and Amot all declined a request for comment.
