Ramat Gan Diamond Exchange district to undergo major upgrade

The plan will allow the construction of 1,750 housing units, 1,500 hotel rooms, 400 sheltered housing units, and 500 student dormitories.

 View of the Israel Diamond Exchange center,  in the central Israeli city of Ramat Gan, January 14, 2016.  (photo credit: MIRIAM ALSTER/FLASH90)
View of the Israel Diamond Exchange center, in the central Israeli city of Ramat Gan, January 14, 2016.
(photo credit: MIRIAM ALSTER/FLASH90)

The Tel Aviv District Planning and Building Committee has approved an outline plan for the Ramat Gan Diamond Exchange district.

The plan will allow the construction of 1,750 housing units, 1,500 hotel rooms, 400 sheltered housing units, and 500 student dormitories. The plan also includes three million square meters of office space and 200,000 square meters of commercial space. The plan also includes preservation orders for some of the Ramat Gan district's older buildings.

The plan also includes two large public centers each of 8,000-10,000 square meters, which aims to make the Ramat Gan Diamond Exchange a major cultural, entertainment, leisure and sports center. The plan also includes an educational institution and encourages green construction and use of public transport.

 A trader inspects a 709-carat diamond, found in Sierra Leone and known as the ‘Peace Diamond,’ as Martin Rapaport, chairman of the Rapaport Group, looks on, at Israel’s Diamond Exchange in Ramat Gan on October 19, 2017. (credit: NIR ELIAS/REUTERS) A trader inspects a 709-carat diamond, found in Sierra Leone and known as the ‘Peace Diamond,’ as Martin Rapaport, chairman of the Rapaport Group, looks on, at Israel’s Diamond Exchange in Ramat Gan on October 19, 2017. (credit: NIR ELIAS/REUTERS)

Ramat Gan mayor Carmel Shama Hacohen, "The Diamond Exchange is the city's main engine of economic growth and the plan converts it from a diesel engine to a turbo jet. The innovative and green environmental development is expected to enhance and diversify the type of activities in the Diamond Exchange district beyond commerce to include culture and entertainment. Within five years the country's first building taller than 100 floors will be built and within 10 years the 120-floor new diamond exchange will make Ramat Gan into Israel's Abu Dhabi in economic terms."

The plan is being promoted and developed by Ramat Gan Municipality and designed by architect Dudi Glor.