Azrieli Group Ltd. (TASE: AZRG) announced this morning the start of work and marketing of the Azrieli Center's fourth tower. Located on the former site of the Yediot Ahronot building, to the north of the existing three Azrieli towers, the spiral tower will have 91-floors and will be Israel's tallest building when completed.

The project will cost NIS 2.5 billion and contain 150,000 square meters of commercial, office and residential space - as much as the other three Azrieli towers put together. The iconic square, circular and triangular towers, which were completed between 1998 and 2007, each have 50-floors and 50,000 square meters of commercial and office space.

Unlike the other three towers, the 'spiral' tower will have residential apartments - totaling 27,000 square meters as well as 65,000 square meters of office space, 15,000 square meters for a hotel, 15,000 square meters of commercial space and 1,150 underground parking spaces.

At ground level, 13,000 square meters of space will be built to connect the 'spiral' tower to the other three Azrieli towers. The main entrance to the light railway station on Begin Street will be through the new expanded mall, which Azrieli estimates will bring foot traffic of over 100,000 people daily.

At the top of the 'spiral' tower will be a garden and chef restaurant.