A further 8,000 square metres under the site has been approved for use as underground parking space.
The plan was initially announced back in 2018 and was given provisional approval last year, but has only just gained the final green light – partially due to the fact that Hagag initially pitched a 10,000 square metre site but asked to significantly expand the scope later on.
A spokesperson for the group said: “We welcome the decision of the Tel Aviv District Committee.
"The Herzliya Marina project is another instance of the group’s strategic planning, spanning various real estate ventures including urban renewal, profitable real estate, and hotels.
"The meticulous planning reflects our commitment to international standards, evident also in Herzliya Marina.”
Commenting at the time of the initial approval last year, District Council chair Eran Nitzan said: “The plan mirrors the committee’s support for and promotion of hotel initiatives along the coastline and within marinas.
"It aims to develop a promenade, a public square, and restaurant facades along the hotel’s stretch, enhancing public spaces.”
