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Azrieli Tel Aviv hikes parking fees

Azrieli Group Ltd. (TASE: AZRG) is raising its parking fees at the Azrieli Center Tel Aviv underground car park. The increase will be 7%, from NIS 15 per hour to NIS 16 per hour.

Shopping mall sales proceeds are falling all over Israel, with a crisis in the fashion sector caused by changes in consumption habits, including more overseas and online purchases, while prices are rising in additional sectors, such as food, electricity, and water.

Simultaneously with these changes, a number of office buildings recently began operating in the vicinity of the Azrieli Center Tel Aviv, so the company may also want to reserve the parking spaces in the mall for people shopping there by not allowing employees in the area to grab the spaces. The shopping mall has lowered the minimum purchase entitling shoppers to two hours of free parking from NIS 300 to NIS 200, which could also indicate a change in the average amount spent on purchases in the mall.

In response to a query from “Globes,” Azrieli Tel Aviv said, “For the entire year, Azrieli Tel Aviv Mall has been giving its customers a 50% discount on parking through Azrieli App and free parking for purchases of more than NIS 199 (instead of NIS 299, as was the case previously). The price increase is only NIS 1, and only in mid-week. At the same time, the minimum purchase for free parking was reduced by NIS 100. Azrieli Tel Aviv Mall invites the public to benefit from all of its discounts and experiences.”

Published by Globes, Israel business news – – on May 15, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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