Ofer Ramat Aviv Mall, from the Ofer Malls Group owned by Melisron, this morning completed the first phase of the improvement process, in which work was carried out to upgrade the mall’s visibility, with a total investment of approximately NIS 40 million. Among the works performed – replacement of flooring, ceiling, railings and systems.
Also, changes were made to the mix of stores and four new stores of international brands were opened – Zara, Mango, Lulu Lemon and Aloe Yoga. The total investment in opening the new stores is estimated at tens of millions of shekels.
The flagship store of the Zara brand was renovated for about six months, by leading professionals who also included a special construction team that came straight from Spain and was a member of the Israeli construction team. The teams redesigned the “Zara” brand store to international and extremely high standards.
The area of the store has doubled and it now stands at about 3,000 square meters (including warehouse space) on two floors, where on the lower floor you can find the women’s and children’s department, which covers an area of about 1,700 square meters, and on the upper floor there is a large men’s department in the area of about 600 square meters. The two floors will be connected by a magnificent staircase and internal elevators.
A collection of over 100,000 items was ordered for the renovated store, some of which are unique items that only reach about 50 stores that are considered premium stores of the chain in the world.
The store will contain dozens of dressing rooms equipped with advanced technology that allows identification of the products that are taken to the rooms as well as the possibility to order into the measuring room, a different size.
Also, for the first time in Israel, Zara online orderers will be able to receive the items they ordered by using a designated position located in the store, by entering a code and receiving the items by an automatic system and without human contact.
In addition to this, 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 shops and brands will be added on the second floor of the mall. Construction work on the third floor is underway, and is expected to be completed in the second half of 2024. The total cost of Melisron for upgrading the visibility of the mall, adding the third floor and opening the new stores amounts to approximately NIS 120 million.
With the completion of the upgrade, the NOI of Ramat Aviv Mall is expected to increase by approximately 11 million NIS.
According to Omer Ogolnik, Vice President of Trade and Operations Manager of Ofer Malls: “Ofer Ramat Aviv Mall is a unique mall that provides the highest quality entertainment and shopping experience in the country. This is thanks to the precise mix 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. Our goal is to continue to differentiate Ramat Aviv Mall as the leading mall in Israel that offers quality and luxury brands, as well as to continue to provide our customers with a pleasant entertainment and shopping experience.”