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NEWS
Store Rental in Geula Costs Four Times More Than in
Downtown Tel Aviv
By M. Green
A cost survey conducted by Halperin Optics as part of
preparations to expand several stores revealed surprising
findings, most notably that the cost of rent for storefront
property in Jerusalem's Geula neighborhood is $200 per square
meter — four times the cost of renting a store on Tel
Aviv's Rechov Ibn Gvirol and comparably to rents charged for
stores in the prestigious Ramat Aviv Shopping Mall.
According to Halperin Optics, due to the lack of commercial
space in Geula store owners have the audacity to demand
— and receive — outrageous rent. The same applies
on a smaller scale along Rechov R' Akiva in Bnei Brak, where
monthly rent ranges from $80 to $100 per meter, which is 30
percent higher than nearby Rechov Bialik.
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