Those killed were not identified but they were likely workers at the construction zone.
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Unconfirmed reports say a crane fell onto the four-storey building, causing it to collapse.
Police, fire and rescue and Magen David Adom were at the scene.
At least 20 people were injured in the collapse, according to Israeli emergency services officials, and an estimated five to seven people are still trapped in the rubble.
Israel Defense Forces are leading the rescue effort and teams worked around the clock to locate and extract the construction workers.
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Rescue personnel digging in the search for missing workers at a construction site collapse in Tel Aviv, Sept. 5, 2016. “It was scary. You feel like everything is going to collapse, and you are going with it”. “We are very anxious if we will succeed in reaching those same people whose voices we can definitely hear”. The neighborhood is home to many high-tech businesses, restaurants and a hospital. The area surrounding the accident site remained cordoned off Tuesday.
