Six months after the Fattal hotel chain announced its intention to enter the co-working space market, the chain finalized a transaction in which it would lease 3,500 m² in the industrial area in the north of the city to create a complex of shared workspaces. The building includes 10 floors of offices above a commercial floor, with Fattal leasing the top two floors of the building (9,10), totaling 3,500 m².
Workspaces next to a hotel
Last August, the hotel chain, controlled by businessman David Fattal, announced its intention to enter the shared workspaces in Israel and worldwide. Emphasizing sites adjacent to the chain’s hotels, whose hotel services will add value to nearby work areas, such as food and health. A month ago, Fattal finalized its first contract in Tel Aviv by leasing two floors of 1,400 m² in the Amot insurance tower on Begin Road in Tel Aviv, which is about half the area leased by the chain in Ra’anana. The agreement was led by Ron Yariv, director of the shared workspace division in Petah Tikva, with the assistance of Roinovich, Head of the Business Administration at the Raanana municipality.
The project in which Fattal is located in Raanana is near Highway 4, the new Highway 531, the Kfar Saba-Raanana North junction, and the recently inaugurated train station in Raanana. It includes a commercial floor with 10 floors of offices totaling approximately 18,000 square meters, as well as an underground parking lot that can accommodate 500 vehicles, with a typical area of 1,723 square meters. Afcon, from the Shmeltzer group, is the contractor for the project. Moshe Stark and Iris Stark, recently appointed president of the Institute of Certified Public Accountants in Israel, have leased a floor in the building.
Tel Aviv and all other cities
A survey revealed that in Raanana, there was only one other shared workspace, owned by the Riggs company, which currently operates 17 branches in Israel. WeWork currently has 11 shared workspace branches. In a month, the company is expected to open the largest shared workspace in Israel. The branch will be opened in the ToHa project, owned by the real estate companies Amot and Gav Yam, at 6 Hatzrot Ha’Aretz Street, in Tel Aviv. WeWork is the largest leaseholder in the project, having leased 6 floors in the building. The survey also shows that the main players in the sector operate 32 shared workspaces in Tel Aviv.
