Afcon Industries Ltd. (TASE: AFIN) today announced that it would build the new campus of offices and laboratories for Mobileye on Har Hahotzvim in Jerusalem for NIS 950 million. The plan was deposited for objections at the Jerusalem District Planning and Building Commission in June 2017. The plan to build the campus was first reported by "Globes" on June 13, 2017.
The complex will be built on the corner of Golda Meir Boulevard and Shlomo Momo-Halevi Boulevard on a 12-duman (three-acre) lot. It will have 135,000 square meters of space, including the company's offices and research and development laboratories, in a 40-floor tower and eight eight-floor buildings, with all of the services needed for supporting the company's managers, engineers, and other employees. Work on the site is slated to begin in March 2019, with final occupancy expected in October 2022. Architect Moshe Tzur designed the project, while the Waxman Govrin Geva Engineering firm provided consultancy services.
Intel announced its acquisition of Mobileye for $15.3 billion in March 2017, making it one of the largest deals in the history of the Israeli economy. Under the deal, Intel undertook to leave Mobileye's activity in Israel, and will also move its international autonomous vehicles development center to Israel. The Jerusalem municipality and the Har Hahotzvim industrial zone hope that this addition will make the industrial zone one of the world's largest autonomous vehicles center. The Jerusalem municipality licensing departments therefore last February issued a digging and revetment permit for the project.
Mobileye said, "Signing the contract is a major milestone in construction of the campus, which will be Intel's global development center in Jerusalem. The campus is planned for 2,500 employees, with expansion options if needed. Completion of the project will enable the company to provide its employees with conditions that are consistent with the company's leading standing in the market with the aim of realizing the autonomous vehicle vision."
Afcon chairperson Israel Raif said, "The Afcon group is delighted and proud to be a party to the agreement for designing and building Mobileye's global campus. This unique and leading project is one of the biggest that will be carried out in the coming years in Israel. The project constitutes a direct continuation of the NIS 1.5 billion backlog of projects won by Afcon in recent months. This shows the developers' confidence in the Afcon group's strength and ability to carry out difficult projects on time with the quality and within the budget to which it is committed."
Published by Globes, Israel business news - en.globes.co.il - on December 2, 2018
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