|An extensive plan to overhaul Israel's Ramat Gan Diamond Exchange business district is being put before the city's Local Planning and Building Committee for approval, reports Israel's Globes online business newspaper. If approved, the plan would see the current 750,000 square meter complex more than doubled to 1.75 million square meters.
This expansion will be achieved in part by building more high-rise buildings in the Diamond Exchange "inner area", replacing small plots with low buildings, thereby clearing some of the space and enabling more efficient planning of the area, according to the news source.
In addition, the plan calls for building 250 long-term rental apartments, student dormitories and business and commercial areas to be built in a plot owned by the municipality and Israel Land Authority, on the banks of the adjacent Ayalon River.Ramat Gan Deputy Mayor and head of the Local Planning and Building Committee Adv. Avivit Maor Nimrodi reportedly explained that, "The municipal concept in Ramat Gan is that instead of expanding into further areas and using land reserves important for the city's future, we should first enhance existing areas and fully utilize the potential in all city areas," said Nimrodi, as quoted by the news source.