The Israel Diamond Exchange (IDE) plans to build a 120-story tower within the Diamond Exchange complex. The tower will be the tallest in Israel and one of the ten tallest buildings in the world. The building will expand the size of the Diamond Exchange complex to 800,000 square metres, from the 100,000 square metres it currently occupies.
Some of the new area will be allocated for use by bourse members, and the rest will be leased to other business entities.
The project is being promoted by the Ramat Gan Municipality and will include two additional skyscrapers of 88 stories and 77 stories, expanding the number of towers on land owned by IDE to six.
Ramat Gan Mayor Carmel Shama-Hacohen observed, "The new compound will include the flagship tower of the State of Israel and will be the entrance gate to Ramat Gan."
IDE President Yoram Dvash said, “We have a vision to expand and upgrade the complex to a bustling business centre and a bustling city centre for Ramat Gan, which is no less big and ambitious than the vision of the diamantaires in the 1960s. I was pleased to discover that the mayor is a partner to this vision.”
He added, “Israel is one of the world's four largest diamond trading centres. Over 10,000 business owners and employees pass through the Diamond Exchange buildings daily and this is expected to increase with the new polishing plants that we are planning to build within the bourse. Our members need the strict security arrangements of the diamond exchange, the best of their kind in the world, and prefer to handle all their business in one large business complex where all services are available. The Mayor's new plan will enable us to realise this vision.”
The plan is designed to connect the new complex with the Tel Aviv central railroad station and with the light rail line that is being built. This is expected to turn the Ramat Gan city centre into one large modern business complex.