After Three Decades, Tel Aviv Stock Exchange Puts Building on Sale

In 2005, the exchange realized it needed a building better fit for computerized trade; it will take most of next year to move.

The Tel Aviv Stock Exchange said Wednesday it was selling its home since 1983 in the run-up to its move to a new building next year.

The announcement to sell the building on 54 Ahad Ha’am St. was made now that the new offices near the Shalom Tower nearby have been completed. The move is planned for the first quarter of 2014; it will take until the end of the year to complete.

"In the past, the lively trading halls were located on the building's first floor, which became a symbol of the Israeli capital market,” the stock exchange said in a statement.

“In 1999, with the completion of the trade computerization process, this floor became a visitors' hall and convention center. The building is five stories high, with total floor space of 5,700 square meters.”

The decision to put up a new building was made in 2005, when it was clear the exchange needed a structure better fit for computerized trade. In 2007 the exchange bought a plot on the corner of Ahuzat Bayit and Montefiore streets for the new building. The TASE then set up a committee to offload its old home.

The official announcement inviting interested parties to make offers will be published on Friday. Attorneys Avi Benyaacov and Hofit Wasserman from law firm Weksler, Bregman and Co. will be in charge of the sale process.

Bloomberg