Guy Nardi, globes.co.il

Israeli construction company Electra Ltd. (TASE: ELTR) has been chosen by the Mivne Group to upgrade the Sharona Center in Kfar Saba including construction of a 17-floor office tower above the existing office complex and shopping mall. The work is worth NIS 170 million.

The Sharona Center is a commercial and office complex near the western entrance to Kfar Saba near the railway station. At present the center comprises 8,400 square meters of offices and 5,000 square meters of store and commercial premises.

The new project designed by architect Erez Ella involves partial demolition of the underground car park and the construction of two new parking floors covering 6,581 square meters, six above ground parking floors totaling 17,105 square meters as well as the 17-floor office tower with 27,000 square meters of space.

Mivne Group CEO David Zvida said, "This will be a building of the highest standards and of the quality of buildings in Tel Aviv from an architectural point of view with high floors, a sky lobby, advanced control amenities and plenty of parking. We believe in the building's location above Road 531, and not far from Roads 2 and 4 and within walking distance of the railway station."