Ramat Aviv ranked 35th-most expensive mall in the world

Cushman and Wakefield rates shopping destination as second-most expensive in the Middle East and Africa; Fifth Avenue is in first place.

By JPOST.COM STAFF
September 28, 2010 12:26
Ramat Aviv ranked 35th-most expensive mall in the world

ramat aviv mall 88. (photo credit: )

 
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The Ramat Aviv Mall is the most expensive in Israel - and 35th most-expensive in the world, according to international real estate consultant Cushman & Wakefield’s 2010 edition of the world’s most expensive shopping destinations, released Monday.

The mall, owned by Ofer Holding's division Melisron Ltd. slipped from 29 in last year's ranking. In 2010, a square meter rents for $140 per month, only 10% of Fifth Avenue, the most expesnive shopping district in the world.

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Hong Kong's Causeway Bay came in second place, followed by Tokyo's Ginza, New Bond Street in London and the Champs Elysees in Paris.

The only city in the Middle East and Africa that is more expensive than Tel Aviv is Beirut. The Ayalon mall, owned by Azrieli Group Ltd. is the eight-most expensive shopping area in the region.

The Cushman and Wakefield reviews rents in the world’s top 269 shopping locations in 59 countries. The rankings are made by taking the most expensive area in each of the countries surveyed.

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