In the 1970's when there was no "Peace Process" this might have made sense, but now that there is talk of creating Palestinian State run by an organization committed to "liberating Yaffo by armed struggle" (i.e. Abbas' PA) just 15 miles from this building, it seems like a fairly risky project. Such a building would always be in range of long and medium range munitions, but the so called "Two-State Solution" ADDS to that the additional threat of short range munitions, small artillery, mortars etc, in addition. And all this, under the control of a PA committed to continuing the armed struggle till Jaffa is liberated. And as we know from the UN Goldstone report experience, Israel will NOT be "allowed" by the international community to do anything about it, when the mortars from Kakilya start landing on Kfar Sava.
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from the article: Israel's tallest skyscraper to be built in Tel Aviv suburb