Ofer Malls Group’s Ofer Ramat Aviv Mall is undergoing significant improvements, some of which will be completed in the first half of 2023.
The mall, which is known for the unique entertainment experience it provides to its customers, recently completed the first phase of the improvement process in which works were carried out to upgrade the visibility of the mall with an investment of NIS 40 million – including replacement of the flooring, ceiling and railings.
Also, changes are being made to the variety of the mall’s stores in order to continue to differentiate it as the leading mall in Israel at the level of the most prestigious and international quality brands.
What changes are coming to the Ramat Aviv Mall?
Among the changes they will make – Zara will be upgraded and expanded: The area of the branch will almost double from about 1,700 square meters to 3,000 square meters; the store will be redesigned to a high-quality standard; and will include the women’s and children’s department on the lower floor and the men’s department on the upper floor. The new store will open this April.
The Lululemon brand will open its first store in Israel in the mall. The store will be spread over an area of about 500 meters on the second floor, instead of the Mango branch which will move to the lower floor, replacing Castro. Next to Mango will open a branch of the online brand Alo Yoga, which is opening a store on the ground floor of the mall and will cover an area of 215 square meters.
Also, the mall is in the stages of expansion and construction of a third floor to which the fast food complex will be moved and in its place new and unique stores and brands will be added (on the second floor of the mall). The work on the construction of the third floor is expected to be completed at the end of the year. The total cost for the project to upgrade the visibility of the mall, add the third floor and expand the Zara store amounts to approximately NIS 120 million.
With the completion of the upgrade, the NOI of Ramat Aviv Mall is expected to increase by approximately NIS 11 million.
“Ofer Ramat Aviv Mall is a unique mall that provides the highest quality entertainment and shopping experience in Israel. This is thanks to the precise variety in it, the presence of a rich variety of international brands in one place, as is rare to find in Israel, a high-level culinary experience and meticulous visibility and maintenance. We are looking at the target of 2025 and are initiating significant changes right now that will keep Ramat Aviv Mall as the leading mall in Israel that offers quality and luxury brands, in accordance with our clientele and in order to continue to provide a pleasant entertainment and shopping experience.”
David Ben Moshe
David Ben Moshe, CEO of Ramat Aviv Mall, said “Ofer Ramat Aviv Mall is a unique mall that provides the highest quality entertainment and shopping experience in Israel. This is thanks to the precise variety in it, the presence of a rich variety of international brands in one place, as is rare to find in Israel, a high-level culinary experience and meticulous visibility and maintenance. We are looking at the target of 2025 and are initiating significant changes right now that will keep Ramat Aviv Mall as the leading mall in Israel that offers quality and luxury brands, in accordance with our clientele and in order to continue to provide a pleasant entertainment and shopping experience.”