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 sqm, from the 100,000 sqm 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 floors and 77 floors, expanding the number of towers on land owned by IDE to six.
According to Ramat Gan Mayor Carmel Shama-Hacohen: "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 center and a bustling city center 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."
The plan, prepared by Yashar Architects, 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 diamond district into one large modern business complex.