When Tel Aviv's Shopping Mecca Loses Its Allure

Once the only luxury shopping district, rents at Kikar Hamedina have plunged and the square is distinctly down-at-heel; Lacoste took its crocs home, Vuitton packed its bags.

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Something disturbing has come over Kikar Hamedina. The sparkle of the exclusive shopping district considered Tel Aviv’s answer to the Champs- lys es seems to have fulled. Store rents have fallen 30% to 40%...