Israel real estate

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British-Israel buy IKEA Israel property
2007-08-12 23:09:00
Bronfman Fisher Investments Ltd. subsidiary Isralom Prop erties Ltd. (TASE:ILOM) and British -Israel Investments Ltd. (TASE: BRTS), controlled by Leo Noe, have jointly bought the IKEA Israel store in Netanya for NIS 175 million from Blue Square Furniture Ltd., a subsidiary of Bronfman Fisher Investments, and the IKEA franchisee in Israel. Isralom will own two-thirds of the building, and pay NIS 116.7 million; British-Israel will own one-third through Azo-REIT Commercial Centers Ltd., and pay NIS 58.3 million. The IKEA Israel store has 23,715 sq.m. of main and service space. Matthew Bronfman and Shalom Fisher control Bronfman Fisher.
More About: Property , Ikea

Judge ordered to register Heftsiba CEO Boaz Yona's property
2007-08-11 23:27:00
Earlier Wednesday, the Tel-Aviv District Court ordered confiscation of Yona's property as a result of a request made by one of the companies pressing charges against Heftsiba, Peninsula Finances Ltd.
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Property values in the burgeoning suburb have skyrocketed
2007-08-11 04:26:00
Not too long ago, Modi'in was known as a place that delivered a high standard of living for bargain prices. Not anymore. In the past month, let alone the past year, israel real estate agents say, property values in the burgeoning suburb have skyrocketed. modiin is One of Israel's first planned cities, today it houses some 70,000 people and is expected to expand to accommodate 120,000; yet even an expansion of that magnitude may not be enough to meet the current demand.
More About: Property , Values , Prop , Urge , Pert

Israel safe from mortgage crisis
2007-08-09 23:17:00
One of the main differences between the Israel i and the US market is the use of mortgage financing and saving ratios and differences in the ease of acquiring a mortgage. Unlike the almost 'automatic' approach in the US for approving household credit, in the case of Israel there is a much more rigorous evaluation of the applicant's loan servicing capabilities as a condition for mortgage approval.
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Israeli tax update - home rental income
2007-08-08 23:51:00
In past years the exempt amount (NIS 4,200) was almost double and many landlords were unaware of the new lower exempt amount. Therefore, they missed out on the "opportunity" to pay 10% tax within 30 days after receiving the rent. The draft bill proposes to let these landlords pay the 10% tax plus interest within 30 days after the amendment becomes effective. That date will only be known if and when the draft bill is enacted.
More About: Rental , Home , Income , Update , Israeli

About 4,000 buyers have been left without their properties
2007-08-08 01:44:00
JPost.com - Ordinary folks, who have staked practically everything they own to acquire an apartment, are left high and dry due to a contracting firm's failure to live up to its end of the bargain. Despite the thick legal armor that Israeli law makes available to shield buyers, many venture into the marketplace without the securities to which they're formally entitled. This is precisely the misfortune of a sizable segment of the clientele of the Heftsiba construction company, which is now in court-ordered bankruptcy-protection to avoid seizure of its assets by creditors: About 4,000 buyers have been left without the properties they purchased from Heftsiba
More About: Left , Buyers , Been , Properties , Prop

Heftsiba seeks bankruptcy protection
2007-08-07 03:18:00
"Heftsiba real estate financial troubles seem to be a result of an obvious cash shortage," said Yuval Ben Zeev, an analyst at Clal Finance Batucha. "Also, there seems to be an element of possible fraud involved, as the company said that profits from their projects were much higher than they really were. But, I am not sure what the trigger was - they stopped delivering goods and couldn't complete projects, and then it was only a matter of time before their lender backed out."
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Tel Aviv stock exchange real estate index closed down 6.7%
2007-08-05 23:16:00
The Tel Aviv Stock Exchange (TASE) opened today following Friday’s sell-off and uncertainty on international markets, especially Wall Street. In addition, the TASE will have to cope with the crisis in the local real estate market caused by the collapse of Heftsiba Building Development & Investments Ltd., which, although not a public company, controls several public companies and is heavily in debt to the banks and other companies. In late trading, the major indices were near their worst points of the day, with the Tel Aviv 25 index closing down 3.69%, the Tel Aviv 100 index down 4.15%, and the Real Estate 15 index down 6.74%.
More About: Real Estate

AFRICA ISRAEL PURCHASES 76.5 MILLION EURO REAL ESTATE IN BULGARIA
2007-08-04 23:08:00
Israeli conglomerate Africa Israel Investments has bought land with office buildings in Bulgaria’s Black Sea coastal city of Varna, a company official said. Africa Israel Investments’ business development manager Akiva Azulay told SeeNews that “It is a big plot and part of it is built and the other part we are going to develop.” The company is controlled by billionaire Lev Leviev and operates in the real estate, energy, hotel services and infrastructure sectors. The company also has a commercial project and two residential developments in Sofia.
More About: Israel , Estate , Real Estate , Euro

TASE closes down again
2007-08-04 02:25:00
The Tel Aviv Stock Exchange closed down again Thursday, after sharp losses on Wednesday due to downward trends in foreign markets.The Real Estate Index lost 1.28%. The US dollar value remained at the same exchange rate was set by the Bank of Israel at NIS 4.3370. The euro rose 0.081% and its exchange rate was set at 5.9287.

Real estate stocks dropped for the first time in three days
2007-08-03 02:24:00
Israeli stocks dropped for the first time in three days Wednesday, following declines in global markets as concern over US subprime mortgages spread. Real estate stocks including Africa Israel Investments Ltd. led the retreat. The TA-25 Index tumbled 23.46, or 2.1 percent, to 1,097.71 at the close, as all shares in the measure fell. Investors traded about NIS 2.43 billion of shares and convertibles.
More About: Stocks , Estate , Real Estate , Time

Eilat's 'entertainment city' awaits final approval
2007-08-02 06:12:00
The entertainment city will offer visitors Broadway-style shows, a water park influenced by the US Sea World chain, a huge play area for the children designed in the spirit of Disney World and Disney Land, spacious shopping and dining avenues, night clubs, a golf course, sports and spas. The entertainment city will be built east of Eilat, on land that stretches north over 1,300 dunam from the Red Sea to the Rabin Border crossing to Aqaba.
More About: Entertainment , Final , City , Fina , Entertain

Igal Ahouvi and Yitzhak Tshuva bought Jelmoli Holding’s portfolio of 88 p
2007-07-31 23:03:00
LONDON, July 31 (Reuters) - A consortium led by Israel's Delek Real Estate (DLKR.TA: Quote, Profile , Research) said on Tuesday it agreed to buy properties worth 3.4 billion Swiss francs ($2.8 billion) from Switzerland's Jelmoli Holding AG (JEL.S: Quote, Profile , Research)(JELN.S: Quote, Profile , Research). Delek has bought 88 prime Swiss properties in partnership with its London-listed subsidiary Delek Global Real Estate (DGRE.L: Quote, Profile , Research) and Igal Ahouvi's Blenheim Properties.
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Igal Ahouvi and Yitzhak Tshuva bought Jelmoli Holding’s portfolio of 88 p
2007-07-31 23:03:00
LONDON, July 31 (Reuters) - A consortium led by Israel's Delek Real Estate (DLKR.TA: Quote, Profile , Research) said on Tuesday it agreed to buy properties worth 3.4 billion Swiss francs ($2.8 billion) from Switzerland's Jelmoli Hold ing AG (JEL.S: Quote, Profile , Research)(JELN.S: Quote, Profile , Research). Delek has bought 88 prime Swiss properties in partnership with its London-listed subsidiary Delek Global Real Estate (DGRE.L: Quote, Profile , Research) and Igal Ahouvi's Blenheim Properties.
More About: Portfolio

Africa Israel, Boymelgreen split assets
2007-07-31 05:21:00
Africa Isra el Investments Ltd. said Sunday it agreed to divide some of the New York and Miami properties it jointly owns and is developing with the Boymelgreen group, controlled by New York real-estate developer Shaya Boymelgreen, who will hand over the rights to properties including 23 Wall Street, 88 Leonard St., the commercial portion of the W Squared project and everything the two sides jointly own in Miami, Yehud-based Africa Israel said in a statement to the Tel Aviv Stock Exchange.
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The Tel Aviv Stock Exchange fell today
2007-07-30 01:31:00
Real estate and small-cap stocks led the market down, as investors rushed to distance themselves from the risks as far as possible. The source of the downturn, which is in effect the second massive sell-off this year, originates in the US market
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Israelis Pause for Reflection
2007-07-29 00:32:00
Israel's real estate developers snap up Israel’s few remaining open spaces and transform them into apartments, roads and office buildings while the government planning boards responsible for land management authorize wide-ranging construction projects with alarmingly short-term vision, all in exchange for easy money. Even the walls of Jerusalem’s Old City, a national treasure, are now blocked from view by a new mall that has gone up right outside the Jaffa Gate.
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GG Studios to be turned into real estate project
2007-07-28 00:15:00
Seventeen years after forming GG Studios in Neve Ilan, Yoram Globus is willing to sell.According to an interview with Yedioth Ahronot, Globus – who poured over $80 million into the studios – is finally willing to consider selling the studio's lot to real estate developers. The studios span 50 acres, 40 of which are owned by Globus himself. "I rejected anyone who offered to buy the land, but now I know the winds are changing," he said.
More About: Estate , Real Estate , Project , Real , Turn

Nitsba raises over NIS 300 million
2007-07-27 00:24:00
The real estate company Nitsba, controlled by Airport City of the Yoel Group, announced on Wednesday that it has raised NIS 307 million in a private stock offering, lifting the company's market value to NIS 2.1 billion. In September 2006, Airport City purchased 63.6 percent of Nitsba for an estimated NIS 1b. Nitsba develops real estate projects both in Israel and in countries around the world and recorded returns of NIS 300m. in 2006.
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Israeli Hotel Owner Sells Shares to Expand in Ukraine
2007-07-26 00:30:00
An Isra eli company, holding shares in numerous hotels throughout Israel decided to sell its stakes in Sheraton and Accor chains, to boost its activity ...
More About: Hotel , Ukraine , Owner , Shares

Africa Israel ventures into Chinese real estate
2007-07-24 23:36:00
Company negotiating a five-city development deal in China, said to open Beijing office soon. Deal estimated in hundreds of millions of dollarsm, Should the deal materialize, it would be Africa Israel 's most massive introduction into any of the world's regions, exceeding even its activities in Russia.
More About: Estate , Real Estate , Chinese

Israel's Al-Rov rejects Arko offer for property unit
2007-07-24 00:07:00
JERUSALEM, July 23 (Reuters) - Isra eli real estate and investment company Al-Rov (Israel) Ltd. said on Monday its board had decided not to accept an offer from Arko Holdings to buy its shares in Al-Rov Prop erty and Lodging.
More About: Offer , Unit

Why are Real Estate Prices Escalating in Jerusalem?
2007-07-23 01:01:00
The most attractive locations to foreign buyers are all the neighborhoods surrounding the center of town, Talbia, Rehavia, Nachlaot, German Colony, Katamon, and Baka. Some Haredi neighborhoods are sky-rocketing as well, such as Gush 80, Ramat Eshkol and especially Shari Hessed, where prices are among the highest in the country. Even the neighborhood of Musrara, which until recently has been considered the slums, is attracting many Americans due to its proximity to the center of town and the Kotel, prices there are escalating as well. In fact, all the neighborhoods desirable to foreigners are within a thirty to forty minute walk to the Kotel.
More About: Estate , Real Estate , Jerusalem , Real , Esca

Tel Aviv and Jerusalem, are now going through what is known as the Manhatta
2007-07-22 00:47:00
As more and more foreigners snap up prime real estate across the country, pushing the purchase prices of apartments out of the reach of many, an increasing number of young Israelis are finding they're also being priced out of the rental market. "Israel's big cities, mainly Tel Aviv and Jerusalem , are now going through what is known as the Manhattan phenomenon," said Bernard Raskin, regional director of the real estate company Remax-Israel. "The demand for apartments in Tel Aviv is not new, but what is new are the prices that people are now asking for small one and two bedrooms. I have never seen a market like this before."
More About: The Man , Going , Goin

Ofer group in talks on selling israel real estate assets
2007-07-21 01:56:00
Sammy Ofer sells his holdings in Ofer Properties, including the control of Mizrahi Tefahot, he does not intend to bid for the controlling interest in Bank Leumi (TASE: LUMI). It would appear, from a regulatory point of view, that a bid by Ofer for Bank Leumi would be problematic because of the concentration of ownership in the economy. Ofer has holdings in Oil Refineries Ltd. (TASE:ORL), Zim Integrated Shipping Services Ltd., and Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) through its stake in Israel Corp. (TASE: ILCO). Leumi itself holds 18% of Israel Corp. The Bank Leumi tender is likely to be published in November. On Tuesday, the Finance Ministry published a tender for the selection of an investment bank to advise on the sale.
More About: Selling , Estate , Real Estate , Real

Israel richest real estate families control 34 percent of top income
2007-07-19 23:37:00
According to the figures, Israel real estate rich shared an income of NIS 248 billion ($57.4 billion) of a total of NIS 722 billion ($172 billion) in income generated by Israel's top 500 companies. The figure is equal to 88 percent of last year's state budget. The Dankner, Tshuva, Azrieli, Weisman, Saban, Arison, Bino, Federman, Borovich, Leviev, Hamburger, Fishman, Strauss, Wertheim, and Alovich families are among the 19 families who control the bulk of Israeli business.
More About: Estate , Real Estate , Income , Real

Al-Rov may sell real estate unit for $593 mln
2007-07-19 03:09:00
In a statement to the Tel Aviv Stock Exchange, it said it would study the proposal but there was no certainty the transaction would take place or under what conditions. In June, Al-Rov opened Jerusalem's largest commercial and residential project valued at $400 million.
More About: Estate , Real Estate , Real , Sell , Unit

Kfar Shalem residents rigged bomb over land ownership row
2007-07-18 01:46:00
The men, who are residents of a neighborhood the Israel Land Administration claims is built on state-owned property, are suspected of rigging the device in order to prevent their forced eviction.A neighborhood representative said police seized gas canisters but did not find any residents in possession of weapons.
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Holocaust restitution group supplements list of known property in Israel
2007-07-17 02:09:00
The assets and property lists - which will be published in Hebrew on the group's web site www.hashava.org.il - were amassed by the Custodian-General's Office, the Jewish National Fund and from a compellation of pre-war bank accounts that the Knesset has already published. Property and assets belonging to Holocaust victims estimated to run in the hundreds of millions of dollars have been held by various state institutions in Israel for dozens of years, and have, until now, not been transferred to their rightful heirs.
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The Israel Arison wants people to know
2007-07-15 23:45:00
He quickly slid into a new business life, establishing a major real estate and construction company and leading the purchase of Bank Hapaolim, Isra el 's largest. "Linnie" - as Ted always called her - felt like an outsider. She abandoned efforts to learn Hebrew. "I realized at best I would sound like a child," she said.
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