Apple Rented Office Space in Ra'anana for Third R&D in Israel

Apple has rented from the Ofer Investments Group office space in the town of Ra'anana, outside Tel Aviv, for its third research and development center in Israel, Globes reported.

The 32,000 sq. ft. space is in The Millenium building in Ra'anan's industrial zone.

The lease agreement has been signed for a period of six years, with an option to extend. Under the contract, Apple will pay $17.5 per square meter ($52,500 altogether), as well as management fees. The rented floors will accommodate about 200 employees.

Apple has offices in Haifa's industrial park, which was inaugurated only last year, and another development center in Herzliya, just north of Tel Aviv.

Apple has recently absorbed some 100 employees who had been let go by the Texas Instruments Ra'anana center, which is why Apple opted to launch its third operation in Israel in Ra'anana.