Ampa Properties, a subsidiary of the Ampa Group, announced Tuesday it will invest approximately NIS 1.1 billion ($290 million) in a new mixed-use development in Herzliya Pituach called Ampa Tower.
Construction is set to begin within three months at the corner of Maskit and Sapir streets, with completion and occupancy expected in early 2030.
The project will span roughly 7 dunams (1.7 acres), replacing the current Korkus building. The 30-story tower will rise to a height of 120 meters (394 feet) and include a total built area of about 65,000 square meters (700,000 square feet).
Of that, 45,000 square meters (484,000 sq. ft.) will be allocated for office space targeting large companies and corporate campuses. Another 4,700 square meters (50,600 sq. ft.) will be designated for retail, including car showrooms, dealerships, restaurants and wellness centers. Around 2,400 square meters (25,800 sq. ft.) will be set aside for public facilities.
While the specific use of the public facilities has yet to be finalized, the options under review include a community-tech hub offering cybersecurity, innovation and AI courses for residents and small business owners; a conference and events center; a digital library combining a learning center, lectures and workshops or a satellite campus in partnership with local universities and high-tech firms.
The development will also feature 134 rental apartments, each 50 square meters (538 sq. ft.) with balconies, aimed at students, tech workers and young families. A 117-room boutique hotel catering to the business sector is also planned.
Ampa Properties CEO Ido Yosef said, “We’re committed to creating a groundbreaking project that combines advanced architecture, technological innovation and top-tier living and working environments. We’re confident this development will play a major role in the urban renewal of Herzliya Pituach and become a real estate landmark in the area.”
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He noted that the entire complex will remain under Ampa Properties’ ownership and will be leased out only. “Unified ownership and management ensure the highest standards in planning, execution and service for tenants and the public,” he added.
Founded in 1933 as the America Palestine Automobile Co., Ampa began as a distributor of trucks, cars and cranes. In 1998, it was acquired by Shlomi Fogel, Shuki Wolf and Tuli Zeder. The Nakash brothers joined as partners in 2005. Today, under CEO Zohar Levy, the Ampa Group operates in various sectors, primarily real estate and alternative finance.
Ampa Properties serves as the group’s income-producing real estate arm and manages over 250,000 square meters (2.7 million sq. ft.) of office and retail space in Tel Aviv and Herzliya.
The company also manages 25,000 square meters (269,000 sq. ft.) of industrial and logistics space, 100,000 square meters (1.08 million sq. ft.) of parking and storage areas and 25,000 square meters (269,000 sq. ft.) of educational facilities, student housing and hotel assets.