Africa Israel doubled net profit to NIS 333 million in first quarter

The reason for the leap is mainly technical: it adopted IFRS, or international financial reporting standards, under which it must reprice its assets according to their current market value. Under Israeli accounting rules, property companies could book their assets at the original cost, which may be a fraction of their current value.

Azorim sells stake in Ramat Aviv mall

Shaya Boymelgreen's local real estate company Azorim Investment, Development & Construction (TASE: AZRM) has sold its 11.6% stake in the Ramat Aviv mall, in north Tel Aviv, for NIS 85 million.

TA apartment is stage for truly domestic drama

It's a play with all the elements of great human drama: yearning, heartache, perseverance, redemption. At the same time, it tells an archetypal, uniquely Israeli tale, one fully cognizant of the burdens of history and the uncertainties of the future.

North Tel Aviv real estate prices cooling off

"People always think prices will rise forever, and they're always wrong," commented one. "At some point, the price rises stop. This is what will happen soon in the new areas of Ramat Aviv: Even if we see additional increases in the short term, they will not be like the hysteria of the last two years." More..

D&B: Israel’s top 5 real estate companies investment up 33% in 2006

D&B Israel reports that Israel’s top five real estate companies invested $12 billion in 2006, up 33% on their investment in 2005. The aggregate shareholders’ equity of these five companies rose 63% in 2006 to $2.5 billion.

Holy City, Unholy Woes

Young Israelis, because of a dearth of jobs and its expensive real estate market are slowly abandoning the city, among the country’s poorest. At the same time, the steady growth of Palestinian Arab residents has prompted Jerusalem Mayor Uri Lupoliansky to warn that control of the municipality could fall into the hands of Hamas by 2020 More...

Africa Israel buys NYC's Clock Tower

Africa Israel Investments Ltd., billionaire Lev Leviev's property company, agreed to buy the clock tower portion of MetLife Inc.'s former New York headquarters for $200 million, its third purchase of a Manhattan landmark in three months. More..

German Colony, Jerusalem house sells for $2.75 million

Another deal has been signed in Jerusalem's German Colony neighborhood, which is in high demand, particularly among foreign residents. A house slated for preservation was sold for $2.75 million. The house is located on Ruth Street on a 400-square-meter lot.
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Bank Hapoalim cuts Africa Israel to Underperform

Bank Hapoalim's equity research department downgraded Africa Israel to Underperform.Its 12-month price target for the stock is NIS 540, compared with its share price of NIS 498 on the date of the report. Basically, its problem is increasing risk and extreme gains in Africa Israel's share price in Tel Aviv.More...

Mehadrin Q1 results leap thanks to business cycle

Mehadrin, a subsidiary of Property & Building Corporation, which itself belongs to the IDB group, had a strong first quarter.Yitzhak Tshuva's insurance company The Israel Phoenix Assurance Company also owns a controlling interest in Mehadrin, which engages mainly in agriculture (from the orchard to the packaging plant) and real estate.
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Sea of galilee 40 acres land for sale

In kfar nachum ( christian holy village ) 40 acres for sale in the sea of galilee north side.
Great for Christian organizations, approval for 200 suites with the best view to the sea, price: 3 million $ , for more information: itimar@gmail.com

Sea of galilee west

Apartments sold and rented

Ramat Gan: A renovated 80-sq.m. three-room apartment with parking on Had Ness St. was sold for $201,000. A 125-sq.m. four-room apartment with parking on Michael St. was sold for $317,000. A 125-sq.m. four-room apartment on Haim Landau St. was sold for $446,000

Foreign buyers seeking a piece of property push up the prices

"Israel is becoming one of the players in commercial and real estate markets," said Hillel Suna, general manager of the Jerusalem branch of the Bank of Jerusalem, one of the nation's largest mortgage banks for foreign residents. More...

Real estate drags TASE down

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 index fell 0.95% to 1084.73 points, the Tel Aviv 100 fell 1.16% to 1081.45 points, and the Tel-Tech fell 1.66% to 404.06 points. Turnover was NIS 2.33 billion.

New home sales up 7.5% in December-March

New home sales rose 7.5% in December 2006-March 2007, compared with August-November, to an average of 1,100 per month, the Central Bureau of Statistics reports. 910 homes were sold in March, of which 780 were under construction and 130 were completed.

Tel Aviv luxury flat prices to plummet

Appraisers Association study shows insufficient amount of buyers to cause up to 20 percent drop in prestigious apartment prices by 2010 More..

UBS lifts Africa Israel target from NIS 368 to NIS 600

Following Africa Israel's (TASE: AFIL) wildly successful flotation of its Russian subsidiary AFI Development in London, UBS has lifted its 12-month price target for the Israeli parent company from NIS 368 all the way to NIS 600. However, its investment rating for the stock remains Neutral-2.More..

Africa Israel raises $1.4 billion in London IPO

AFI Development, held by Africa Israel becomes fifth largest real estate company in Europe in biggest Israeli IPO ever Read More..

Dollar decline shakes up israel property market

"The weakness of the dollar is shaking the local real estate market and causing embarrassment in the market. It's like a casino of currencies," said Hanan Schlesinger, chief executive officer of Anglo-Saxon Israel real estate brokerage.Read More..

Foreign buyers push up real-estate prices in Israel

Under the shadow of cranes, steel beams and gleaming reflective glass, a forest of high-rise buildings seems to be taking over the Tel Aviv horizon - part of a nationwide building boom that Israelis and Diaspora Jews are buying into. Read More..

Elron to Sell Carmiel Real Estate for Approximately $11.6 Million

Upon completion of the sale, Elron expects to record a gain, after tax of approximately $3.5 million, in the second quarter of 2007. Read More..

Amot buys 50% of Carmiel Mall

Amot Investments Ltd has acquired half of the Hotzot Carmiel Mall from Gabrielim Initiations & Investments Ltd. for a maximum of $19 million. Amot has an option to increase its stake in the mall to 70%. The deal gives Amot a return on investment of at least 10% of the mall’s operating cash flow.

Financial Levers buys Hasharon Mall for NIS 344m

Financial Levers Ltd. has bought the Hasharon Mall from Alrov Properties and Lodgings Ltd. for NIS 344 million. The deal does not include the mall’s health club and assisted living facility.