Jerusalem may be on its way to getting a new mall. Melisron, one of the country’s largest developers of shopping malls, has requested permission to build its first in the capital, on a vacant plot near the Armon Hanatziv promenade.

If approved, the move could spark increased competition between the city’s most successful shopping centers, including those in Malha and Ramot and the Hadar Mall in Talpiot.

In July, Melisron acquired 75 percent of the ownership rights to the 29-dunam (7.2-acre) plot of land, for NIS 247.5 million ($83 million), according to the company’s latest quarterly earnings report.

The land is currently zoned for residential and hotel use only, but Melisron has requested permission to include a shopping center in the development. The purchase stipulated an additional NIS 120 million ($40.2 million) payment if a new zoning plan is approved that would designate it a mixed-use complex that can include commercial space, as well as recreation and leisure facilities.

Melisron has presented the plan to the Jerusalem municipality, which is broadly in favor of it.

“In principle, the initiative is being looked at in a positive light,” a city spokesperson said in a statement to The Times of Israel.........

© The Times of Israel