Google has finalized a major deal to lease approximately 60,000 square meters in Tel Aviv’s ToHa2 Tower along with Gav Yam and Amot. This agreement includes several hundred parking spaces and lasts for a decade with an annual rent of NIS 115 million. The leasing will begin in early 2027 once the construction of ToHa2 is completed. This move will see Google relocate 2,000 employees from its current Electra Tower offices, making it the largest office leasing deal in Israel’s history in terms of both space and rental value.
Construction of the ToHa2 tower is currently underway, with 40% of the structural work completed according to schedule. Google’s expansion is evident in the vast area they will be renting. The tower is strategically located on the Yigal Alon axis near the central railway station, close to public transport hubs. The estimated cost of the project is 3 billion shekels with an expected annual rental income of 280 million shekels.
Google has been situated in the Electra Tower since 2011 and initially rented around 8,000 square meters, later expanding to 9,500 square meters. The new space they will be leasing is over five times larger than their current office space, indicating plans for significant future growth. This deal is not only the largest office rental deal in Israel’s history but also surpasses previous deals with Facebook, Microsoft, and Wix.
The relocation to ToHa2 tower will allow Google to consolidate its operations in a modern and expansive space, supporting the company’s growing workforce. The proximity to key transportation hubs and the central location of the tower make it an ideal choice for Google’s expansion plans in Israel. This landmark deal marks a significant milestone for Google’s presence in the country and reinforces its commitment to investing in Israel’s tech industry.
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https://www.calcalistech.com/ctechnews/article/s1sjobdlc
