Kikar HaMedina, Tel Aviv. כיכר המדינה

01

Where it is

Kikar HaMedina sits in the New North, in the area between Ibn Gabirol Street, Weizmann Street and Namir Road. It is the largest plaza in Tel Aviv. Heh BeIyar Street runs in a ring around it and connects to Weizmann running north-south and Jabotinsky running east-west, with smaller streets such as Zlocisti, Ramaz, Barry, Epstein, David Yellin and Moshe Sharett around it.

Transport is mainly by bus for now. The Green Line light rail is being built along Ibn Gabirol, and the Yarkon Park and the Ayalon routes are close by. A planned road tunnel under the square was cancelled in 2017, so traffic stays at street level.

02

From an empty sand circle to three towers

The land in the middle of the square was bought by private families in the early 1940s, and it passed through heirs of heirs to about 250 rights holders. In the 1960s circuses performed on the sand. A 1969 plan allowed building around the inner and outer rings but left the centre empty, and in the early 1970s the uniform luxury blocks around Heh BeIyar went up.

Then came decades of deadlock. In the mid-1970s Mayor Shlomo Lahat tried to keep the centre as green space, the landowners objected, and the dispute went to the Supreme Court. An early-2000s plan for three 25-storey towers with 387 flats and over 10,000 sqm of shops met opposition and legal battles; the commercial space was dropped and turned into homes.

The square also became a symbol. On 3 September 2011 about 300,000 people gathered here for the 'March of the Million', the climax of that summer's cost-of-living protests and described as the largest demonstration in Israel's history. The towers plan was approved in November 2015 and work began in 2019.

03

What it is actually like today

The ring is known for luxury retail, with houses such as Gucci, Dior, Hermès and Burberry on the ground floors. Behind it are quiet residential streets of 1950s–70s apartment blocks, many of them large family flats. During tower construction street traffic has dropped sharply, and the shops have felt it.

The towers are nearly ready. Two have 40 floors and one 37, with 453 flats, rotating floors that give a spiral look, and planned residents' pools, gyms and a spa. An occupancy permit was expected at the end of 2026 and residents should move in around March or April 2027. Underneath are three levels of parking, with 906 resident and 720 public spaces.

Most of the open ground becomes a park with a lake, paths, playgrounds and fitness areas, and about 35 dunams are set aside for public buildings. An elementary school has opened on the site and a 10-storey community centre is being built. Whether schools and services can absorb the new residents is an open question.

Around the square, construction is everywhere. Older blocks are being rebuilt under Tama 38 and demolish-and-rebuild deals, so expect noise and closed pavements on many streets. Older buildings may lack safe rooms; check this flat by flat.

04

Renewal: the plans for Kikar HaMedina

The towers are the headline. About 250 landowners acted as their own developer, raised nearly ₪40m of their own money, and then got a credit facility of about ₪2.05bn; Electra and Ashtrom are building for about ₪1.4bn, and total cost is about ₪4.3bn. The architects are Yaski Mor Sivan. Landowners now also face a new ₪45m betterment levy.

Smaller rebuilds ring the square. Zlocisti 4 is going from 12 flats to 22, Ramaz 27 from 14 to 24, and Zhabotinsky 152, by Beit VeGag, from 20 to 38; Noga is rebuilding on Hankin Street. On Barry Street, Adam Shuster is assembling 11 buildings with about 190 flats, which he estimates could become up to about 500.

Not everyone is happy. Nearby residents and shop owners have filed compensation claims over lost value and views, critics call the towers an enclave for the wealthy, and residents have complained about traffic and parking changes.

05

Who lives here

The area is home to wealthy, long-established Tel Aviv families and older owners who have held their flats for decades, alongside professionals who rent the larger family flats. The towers have drawn high-profile buyers, among them the singer Omer Adam and the footballer Sergi Roberto.

There is no published figure for English speakers. Anglo buyers here tend to be families looking for space, parks and a prime address, or wealthy buyers looking at the towers.

There were about 125 flats for rent on Madlan in October 2026, mostly three to five rooms. Rents are among the highest in the city.

06

Prices and what you get

Registered sales around the square had a median of about ₪64,100 per sqm and ₪5.15m across 700 deals from January 2023 to July 2026. A 70 sqm three-room works out at about ₪4.49m. The yearly median has been flat: ₪65,817 in 2023, ₪63,740 in 2025 and ₪64,286 in 2026 to July.

New-build prices have come down. Bizportal reports a fall from a peak of ₪70,000–75,000 per sqm to about ₪63,000–68,000, with the towers averaging about ₪65,000 and appraisers estimating 10–15% below peak. Large flats, penthouses and garden units still sell at ₪80,000–110,000. About 500 flats were listed for sale in October 2026, developers were offering incentives, and deals fell about 13% from 2024 to 2025. Of 453 tower flats, an estimated 200–250 may reach the market once delivered.

Recent deals include a 70 sqm three-room at David Remez 42 for ₪6.3m (June 2026), a 70 sqm three-room at Epstein 7 for ₪4.88m and a 114 sqm four-room at Moshe Sharett 38 for ₪6.55m (July 2026). In the towers, a 140 sqm flat on floor 38 sold for about ₪10.63m.

Rents are high. Visible three-room listings asked ₪8,650–9,700 for 72–74 sqm and four-rooms ₪15,500–20,000. At ₪9,175 a month a ₪4.49m three-room yields about 2.5% gross. Purchase tax brackets are frozen until January 2028: a sole home at ₪4.49m costs an Israeli about ₪120,000, an additional home or a non-resident about ₪359,200 at 8%, and an oleh within seven years of aliyah about ₪12,550 at 0.5% above ₪1,978,745.

Full price brief for Kikar HaMedina: every registered sale, rents and purchase tax →

07

Buying here: what to check before you sign

• Watch the tower supply. Two to three hundred tower flats may come to market from 2027. Factor that into your price and your resale timing.
• Negotiate from deals, not peaks. New-build prices are down from their peak and developers offer incentives. Use registered sales, not old price lists.
• Ask about the building's renewal. Many blocks are in Tama 38 or rebuild talks. Find out whether yours has signed, and what is planned next door.
• Count outdoor space carefully. Penthouse per-sqm prices depend on how balconies and roofs are counted. Appraisers usually count well under half of large outdoor areas.
• Check tower running costs. Towers with pools, gyms and spas carry high service charges. Get the building committee's budget before you buy.
• Confirm the school place. The new school and community centre serve a growing population. Check which school serves the exact address and how full it is.
• Check for a safe room. Older 1950s–70s blocks may not have one. Confirm the shelter arrangements before you buy.

08

Who it suits

09

The verdict