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Delek Real Estate buys Tel Aviv and Haifa properties
2008-02-06 00:35:00
DMR Properties (1995) Ltd., bought a five dunam (1.25-acre) lot on Hamasger Street in Tel Aviv for NIS 64 million. Vitania and DMR will own the lot in equal shares. The lot is zoned for an 18,000-square meter gross space office building. The companies plan to demolish the buildings occupying the site and build the office building. Delek Auto's board has authorized DMR to extend to Vitania a NIS 32 million five-year loan at Prime + 1% interest to buy its share of the lot.
More About: Estate , Real Estate , Real , Haifa

Giron buys Polar stake for NIS 125m
2008-02-03 00:22:00
Giron real estate bought 1.82 million Polar Investment shares at NIS 69 per share, a 56 percent premium on yesterday's closing price of NIS 44.27. The sale was made at a company value of NIS 587.1 million for Polar, compared with its market cap of NIS 364.8 million.

Deutsche Bank initiates coverage of Africa-Israel Properties
2008-01-31 12:00:00
Deutsche Bank has initiated coverage of Africa -Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) subsidiary Africa-Israel Properties Ltd. (TASE: AFPR) with a "Buy" recommendation, which the bank admits "is going against the grain", and a target price of NIS 280, nearly double Sunday's closing price of NIS 148.70.
More About: Deutsche Bank , Coverage

Netanya - City by the sea: Ir Yamim
2008-01-28 07:55:00
Netanya is the favorite destination for many overseas residents who want a holiday home in Israel; it is located in the center of the country and is a seaside town.In relation to the total population, Netanya has the largest number of overseas residents. According to rough estimates, it has an overseas population of nearly 9 percent, most of whom have a house or an apartment that they use as a holiday home.
More About: City

Global avalanche hits Tel Aviv
2008-01-24 08:58:00
The Tel Aviv Real Estate 15 Index lost a further 1.23% today, a decline which now leaves it 40% adrift of the high it reached in May 2007. Much has been written about this sector in the past year but as the new year begins, the performance by real estate stocks can be summed up in one word - a bubble. This, however, does not contradict the fact that the current slump in share prices in this sector will probably create quite a few buying opportunities in the future. But that is how it works on the market.
More About: Global , Avalanche , Hits

Israel real estate purchases by Americans said to be slowing
2008-01-20 23:13:00
"It is really the dream of so many American Jews to be able to own a piece of property in the Holy City and the Bank of Jerusalem has helped a large percentage of them in making it a reality," he said, estimating that the bank handles approximately 40 percent of all foreign mortgages in Jerusalem. "We are more familiar to people in New York than in Herzliya and we can attribute our success to the fact that we have built our activities specifically for foreigners."
More About: Israel , Estate , Real Estate , Real , Americans

Insiders buy real estate shares as TASE slides
2008-01-17 09:02:00
Shari Arison, Nochi Dankner, Yitzhak Tshuva, Alfred Akirov, and Mordechai Zisser are among the controlling shareholders buying up shares in their companies.A number of controlling shareholders in Tel Aviv Stock Exchange (TASE) listed companies have been exploiting the falls in share prices to buy up shares, either themselves or through holding companies. The weakness in international markets in the past few months has not spared the TASE.
More About: Estate , Real Estate , Real , Shares , Insiders

Delek Real Estate, Kardan near Dankner Investments deal
2008-01-15 08:06:00
Delek Real Estate added that, if the deal is closed, it expects to report a net capital gain of NIS 40-60 million. The net capital gain will total NIS 70-100 million including a 40 percent deferred gain, assuming an equal value for Dankner Investments and Kardan Real Estate .A deal to sell Dankner Investments to Azorim Investment, Development and Construction Ltd. (TASE: AZRM) last year was called off.
More About: Deal

Delek real estate to sell bonds
2008-01-13 00:13:00
Delek Real Estate Ltd., the Israeli property company that bought 12 Frankfurt-area supermarkets last month, plans to raise 800 million shekels ($210 million) in a bond sale to refinance existing debt and fund new investments. The securities have been rated A+/stable, Ma'alot-The Israel Securities Rating Co. said in an e-mailed report on Jan. 4. About 340 million shekels will be used to repay loans and 460 million shekels to fund acquisitions, Ma'alot said.Delek plans to acquire income-producing real estate leased to quality tenants, rather than develop its own.
More About: Real Estate , Bonds , Sell

Israelis embrace stronger shekel in contracts
2008-01-07 16:24:00
Figures released by the central bank on Sunday showed that the share of new rental contracts denominated in dollars dropped in recent months, from about 68 percent in October to 62% in November, compared to about 85% of all contracts in January 2007 and 90% in 2005. The bank said homeowners were switching to shekel-linked leases due to the weakness and volatility of the dollar.Hanan Schlesinger, CEO of Anglo-Saxon real estate, told The Jerusalem Post last month that in the second half of 2007 about 75% of the agency's rental deals were fixed in shekels. "Assuming the dollar remains at current levels, I believe that within a year nearly all rental contracts will be denominated in the local currency," Schlesinger said.
More About: Embrace , Stronger , Contracts , Israelis

Six questions for 2008
2008-01-01 08:08:00
Many of the participants in TheMarker's survey of forecasts for Israel's real estate sector in 2008 are sunnily positive. They think the boom that began three years ago will continue, whether in the center or perhaps the north and south, too.Yet some glimpse clouds on the horizon. Here are some questionable areas.
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Jelmoli sues Delek consortium over property deal
2008-01-01 08:06:00
"We are asking for the completion of the purchase agreement and also the payment of the agreed purchase price, and additionally compensation and interest of eight percent per year," Jelmoli CEO Harald Pinger told Reuters."We filed the legal case today at the trade board in Zurich against Blenheim Properties, Delek Global Real Estate, Delek Belrom International as well as a Swiss special purpose vehicle," Pinger said.
More About: Property , Deal

Army's southward move unlikely to boost Be'er Sheva's real estate fortunes
2007-12-28 21:01:00
The state's current plans for attracting people to move to the Negev will have little effect on the southern region, according to Dr. Oren Yiftachel, a geographer from Be'er Sheva's Ben-Gurion University.Yiftachel and several other urban-planning experts fear that even the plan to transfer some of the Israel Defense Forces' large bases down south will not benefit the Negev's largest city, or its large population of people under the poverty line. The communities that stand to gain most from the IDF move - and from the large contingent of career officers who are expected to relocate to the Negev as a result - are smaller, richer ones like Lehavim, Meitar and Omer, according to Yiftachel.
More About: Estate , Real Estate , Real , Move , Boost

Rejuvenating one of Israel's oldest urban centers
2007-12-22 20:38:00
Founded 130 years ago in 1878, it was one of the countries first Jewish agricultural settlements. But much water has flown down the Yarkon River since then, and it is now a large, bustling city covering an area of 10,000 acres with a population of just under 200,000.Given the city's proximity to Tel Aviv and its holding of necessary land reserves, Petah Tikva is set to expand rapidly.
More About: Urban

In Sderot, real estate woes punctuate rocket blasts
2007-12-15 07:32:00
Questions about apartment prices in Sderot prompt an angry retort from Yaakov Solomon, who runs a small real estate agency in the center of town. "Sderot is not for sale," he says, but does not deny that property values have plummeted in recent years, to the point that "they can't drop any further."His sense that prices have recently stabilized gains credence from the Israeli real estate Web site. Here it says that although prices in Sderot are lower than anywhere else in the South, they have remained stable over the past two months.
More About: Estate , Real Estate , Rocket , Real

Migdal continues real estate investments
2007-12-08 07:39:00
Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) has completed its purchase of the Herzliya Life Plaza complex for NIS 300 million. The purchase was made with funds from participating life insurance policies.The 22,000-square meter two-building office and commercial complex was bought from a subsidiary of Fishman Holdings CA Israel Ltd. is the primary tenant in one building; construction of the second building is due to be completed by mid-2008 and marketing of space is now underway.
More About: Estate , Real Estate , Real , Investments

Property Sellout in the Capital
2007-12-01 16:59:00
The five-star Palace Hotel and Residences, now rising behind a preserved ornate arabesque facade close to the Old City of Jerusalem, is set to be the last word in luxury - but also to meet the most demanding religious requirements of ultra-Orthodox Jews. So, for example, there will be no mixed swimming there and instead it will boast two pools - one for men and one for women. And apart from meticulous observance of kashrut and the Sabbath, the Palace's main attraction for its target clientele will be its proximity to Judaism's most holy site, the Western Wall of the Temple Mount.
More About: Property , Capital

Africa Israel Q3 net profit soars 82 pct
2007-11-26 19:27:00
The company, which is controlled by billionaire Lev Leviev, recorded quarterly net profit of 215 million shekels ($55.6 million) or 4.42 shekels per share diluted compared with 118 million shekels or 2.09 shekels per share diluted a year earlier.Africa Israel 's revenue in the quarter rose to 2.23 billion shekels from 1.23 billion shekels.
More About: Profit

More crooked dealings in real estate market
2007-11-20 08:23:00
Hanan Schlesinger, CEO of Anglo-Saxon, said that his real estate agency chain has a full electronic reporting system to record all deals and a fierce internal accounting system, making it virtually impossible for agents to engage in any black market activity."I believe that black market activity occurs mainly among privately-owned and small real estate brokers and less among real estate agency chains, but I don't believe that the black market figure, which is difficult to measure, is that high," he said.
More About: Estate , Real Estate , Real Estate Market , Market , Real

Your Real Estate expenses Guide for buying a Home in Israel
2007-11-15 08:55:00
This guide will walk you through the various expenses associated with a real estate transaction in Israel .Whether you are looking to buy or sell a property in Israel, it will help you plan ahead and make sure you are on top of the game. It is built in a Q&A format for your convenience.What Is the Purchase Tax?
More About: Buying , Estate , Real Estate , Home

Jerusalem Real-Estate Stories, Part 1
2007-11-10 20:18:00
When I am in Israel, a large percentage of my stay goes into assessing the real-estate market and trends going on there. I decided to use at least a few articles to share with you some of the interesting stuff going on there.Since many of us do visit at least once a year, you may recognize some of these trends and say, “Yeah, I noticed that, too!” But for the rest, maybe you will hear something new or something nostalgic that will make Israel seem all that much closer to you here.
More About: Estate , Stories , Real Estate , Jerusalem , Real

Israel joins U.S. probe of Gilad Sharon over alleged $1.8M fraud
2007-11-05 08:11:00
Gilad Sharon allegedly received the money from the Canadian projects through two companies that he controled: Sycamore Ranch Ltd. and Lerner Manor Trusteeships. The fraud squad on Sunday confirmed the existence of the investigation, but police sources said it is merely another link in a long chain of investigations into the financial dealings of the Sharon family.
More About: Israel , Fraud , Probe , Gilad

Delek Real Estate in talks to sell Israel unit
2007-11-01 18:03:00
According to the negotiations, Delek unit Dankner Investments, which covers most of Delek's residential activity in Israel , would be sold to or merged with Kardan's real estate unit, Delek said in a statement to the Tel Aviv Stock Exchange.The conditions of the deal have not yet been decided and there is no certainty the negotiations will lead to an agreement, Delek said.
More About: Estate , Real Estate , Real , Sell

Jelmoli deal's off, war's on
2007-10-27 23:16:00
One of "the biggest real estate deals Israelis ever did in Europe" turns out to be something other than actually done. On July 31st the local press went wild over the deal in which Yitzhak Tshuva's real estate giant Delek Global Real Estate, teamed up with Israeli businessman Egal Ahouvi, agreed to buy a portfolio of 88 yield-generating properties from Jelmoli. Then yesterday Delek stated that the adjusted price for the portfolio didn't adequately reflect the changes in the international commercial property market, and bowed out.Delek and Ahouvi were to pay a vast NIS 12 billion (3.4 billion Swiss francs) for the portfolio and back then Jelmoli chairman Walter Fust had the warmest of words for his Israeli colleagues.

Seven Things Your Real Estate Lawyer Should Do For You
2007-10-24 18:24:00
Discover What You NeedYour lawyer should help you ask the right questions and get the answers you need. For instance, if you're buying a second-hand apartment your lawyer will need to know when you want to take possession, what kind of payment terms would be best for you, how you are financing the purchase, what items you are asking the sellers to leave in the apartment, whether you have agreed on the price, if you are planning to make structural changes to the apartment and more.
More About: Estate , Real Estate , Lawyer , Real , Things

Deutsche Bank raises Africa-Israel target price
2007-10-19 02:31:00
Deutsche Bank has raised its target price for Africa -Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) from NIS 370 to NIS 475 while reiterating its “Buy” recommendation for the share. The target price is 17% above today’s opening price of NIS 405.80. The share rose 1.4% in morning trading. Its market cap is NIS 20.5 billion.
More About: Deutsche Bank , Price , Target

Through the roof
2007-10-15 00:30:00
In the past two years, rental prices in many parts of the capital have skyrocketed, with a hefty price tag attached to just about anything resembling accommodation in the holy city. Even neighborhoods that many people had considered undesirable in the past, like the Katamonim and Kiryat Hayovel, are now hot spots for renters and buyers alike - and landlords are taking notice, in some cases raising rents by as much as $200 in two years.The rise in rental costs is linked with a variety of factors. Many people blame the fact that the real estate market in Israel is for the most part dependent on dollar prices, and that the drop in the value of the dollar has caused landlords to scramble to make up the difference by raising prices.
More About: Roof

Real estate leads TASE to record high
2007-10-10 14:28:00
The Tel Aviv Stock Exchange (TASE) closed up today. The Tel Aviv 25 Index gained 1.61% to 1,176.13 points; the Tel Aviv 100 Index added 1.67% to 1,146.48 points; while the Tel Tech Index gained 0.87% to 446.73 points. Turnover totaled NIS 2.088 billion.No doubt if we had bet back in August, when the crisis was at its peak, that the markets would reach a new high immediately after the end of the holiday season, many people would fallen about lauhging. Today, less than two months after that crisis, the TASE, led by the much maligned real estate sector, has already reached a record high - an event which clearly illustrates the dynamism, or risk according to some, that now characterizes the markets.
More About: Estate , Real Estate , Leads , Real , High

Finding the right financing
2007-10-07 00:36:00
Local real estate is increasingly in demand as Jews from the US, UK, France and other countries snap up property in Israel. Many of these foreigners buy some of the very high end properties on the market: apartments worth over $1,000,000 and multi-million dollar single-family homes with gardens. As a result, prices are rising steeply.Some potential overseas real estate buyers have the necessary funds to buy property outright, while others do not. There are still others who can afford to buy property, but do not want to see their money tied to brick and mortar and prefer to invest in a business venture which will yield more than interest rates will cost. These types of buyers want mortgages, and if they have good credit records, will attain them.
More About: Financing

For Sale: Resort land in the sea of galilee
2007-10-03 15:42:00
For Sale a 25 acres private lot, overlooking the Sea of Galilee (Kineret). The property has the best and the most extensive building rights in the Galilee area. It's the only one with building rights that can be utilized for a number of hotels, motels, resorts,it is located within a beautiful nature reserve surrounded by a forest, enlightening a peaceful environment.Price: 10M $ , for more information : itimar@gmail.com
More About: For Sale , Land , Resort