Ofer Ramat Aviv Mall finishes first stage of major renovation
Ofer Ramat Aviv Mall, part of the Ofer Malls Group owned by Melisron, has recently completed the first phase of its renovation process to upgrade the mall’s visibility, with a total investment of approximately NIS 40 million.
Among the works performed were the replacement of flooring, ceiling, railings and other systems.
Also, changes were made to the mix of stores, and four new stores of international brands were opened - Zara, Mango, Lulu Lemon and Alo Yoga. The total investment in opening the new stores is estimated at tens of millions of shekels.
In addition to the opening of the new stores, the mall is in the stages of expansion and construction of a third floor to which the fast-food complex will be moved, and, in its place, new and unique stores and brands will be added on the second floor of the mall. Construction work on the third floor is under way, and is expected to be completed in the second half of 2024. The total cost of Melisron for upgrading the visibility of the mall, adding the third floor and opening the new stores
amounts to approximately NIS 120 million.
With the completion of the upgrade, the NOI of Ramat Aviv Mall is expected to increase by approximately 11 million NIS.
Also, with the opening of the new stores, Ofer Ramat Aviv Mall launched an extensive campaign under the title: “We have renewed.” The campaign led by the McCann advertising agency includes digital, activity on social networks, activity from Mizpanim and advertising on the indoor screens in the mall and is estimated at approximately NIS 700,000.
According to Omer Ogolnik, vice president of Trade and
Operations Manager of Ofer Malls: “Ofer Ramat Aviv Mall is a unique mall that provides the highest quality entertainment and shopping experience in the country. This is thanks to the precise mix in it, the presence of a rich variety of international brands in one place, as is rare to find in Israel, a high-level culinary experience and meticulous visibility and maintenance. Our goal is to continue to differentiate Ramat Aviv Mall as the leading mall in Israel that offers quality and luxury brands, as well as to continue to provide our customers with a pleasant entertainment and shopping experience.”