Azrieli Group Launches Fifth Palace Assisted Living Facility in Rishon LeZion for NIS 590M
Azrieli Group launched Palace Azrieli Rishon LeZion, its fifth assisted living facility, built with an investment of NIS 590 million. The 30-story complex features 274 units, with 40% already sold before opening.
Azrieli Group, led by CEO Dana Azrieli, has officially launched its fifth assisted living facility under the Palace network—Palace Azrieli Rishon LeZion. The project represents an investment of approximately NIS 590 million.
Strong Early Demand and Facility Features
Demand for the new residence has been robust since early stages. By the end of the second quarter, even prior to the official launch, approximately 40% of the apartments had already been sold. Spanning 30 floors, Palace Azrieli Rishon LeZion includes 274 housing units. It joins the network's existing four facilities in Tel Aviv, Raanana, Modiin, and Lehavim, bringing the network's total capacity to over 1,400 housing units nationwide.
Designed as a comprehensive residential and service complex for senior citizens, the facility features a medical wing, swimming pool, sports and spa center, cultural and leisure spaces, a restaurant, and a cafeteria. The top floor houses a sea-view rooftop designated for events, performances, and resident activities, alongside an integrated commercial center.
"Israel is undergoing a significant demographic shift, and we believe assisted living plays a central role in meeting the evolving needs of the senior community," stated Dana Azrieli, CEO of Azrieli Group.
Culinary Partnership and Management
A central component of the residential experience is its culinary offering, with renowned chef Israel Aharoni advising the gastronomic operations at Palace Rishon LeZion. The facility is managed by Tal Amit, who holds a master's degree in gerontology and previously served as a founder and manager of Palace Lehavim.
The opening of the new facility reflects the ongoing expansion of the assisted living market in Israel, driven by rising life expectancy, demographic growth among seniors, and a high demand for independent living frameworks combined with community life, medical services, and leisure infrastructure.
