Jerusalem’s International Convention Center (Binyenei Hauma) at the entrance to the city will be redeveloped and renamed in memory of Israeli statesman Shimon Peres, who died in 2016 at the age of 93. His last political position was as the 9th president of the Jewish state, serving from 2007 to 2014. Peres also served as a Knesset member and prime minister.

The center, which was inaugurated in 1956 near the government building complex in Givat Ram, is expected to become the largest and most advanced conference center in the Middle East, covering an area of 55,000 square meters.

The redeveloped site will include a business center with nine skyscrapers and another 15 10-story buildings. Construction of the entire project is expected to take place over the next decade at an estimated cost of $530 million.