BST wins NIS 185m Azrieli Holon Business Center contract

Michael Margalit

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Sources inform ”Globes” that BST Development & Construction Company Ltd., owned by chairman Badi Tannous has won the NIS 185 million tender to build Azrieli Business Center in Holon. According to, Azrieli Group Ltd. (TASE: AZRG), at a total investment of NIS 720 million, the Azrieli Business Center will be Israel’s second largest real estate project, after the Azrieli Towers in Tel Aviv.

In December, Azrieli Group began marketing the 220,000-square meter project, including 120,000 square meters of rental space, located on a 33-dunam (8.25-acre) site on Jerusalem Boulevard on Holon’s new industrial zone. BST, run by CEO Elias Tannous, beat Uri Dori Engineering Works Corp. (TASE: DORI), Danya Cebus Ltd. (TASE: DNYA), Shikun u’Binui Solel Boneh Building and Infrastructure Ltd., and El Har Engineering and Construction Ltd.

The Azrieli Business Center will have four buildings: two 20,000-square meter round buildings and two 40,000-square meter rectangular buildings, each with 13 floors. The project will have 2,600 parking spaces.

BST has already built Azrieli Group’s Modi’in Mall, for NIS 200 million, and it is building the Kiryat Ata Mall. In the past year, BST won contracting projects worth NIS 1 billion, including the Capital Towers in Jerusalem for Ofer Holdings Group and Carasso Real Estate Ltd., and office building for Mizrahi Tefahot Bank (TASE:MZTF) in Holon, a factory and logistics center in Modi’in for Hadera Paper Ltd. (AMEX: AIP; TASE: AIP), and the Alonei Hasharon commercial center for Alon Holdings Blue Square – Israel Ltd. (NYSE: BSI; TASE: BSI).

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