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.
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.