Africa Israel, Boymelgreen split assets

Africa Israel 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.

The Tel Aviv Stock Exchange fell today

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

Israelis Pause for Reflection

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.

GG Studios to be turned into real estate project

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.

Nitsba raises over NIS 300 million

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.

Israeli Hotel Owner Sells Shares to Expand in Ukraine

An Israeli company, holding shares in numerous hotels throughout Israel decided to sell its stakes in Sheraton and Accor chains, to boost its activity ...

Africa Israel ventures into Chinese real estate

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.

Israel's Al-Rov rejects Arko offer for property unit

JERUSALEM, July 23 (Reuters) - Israeli 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 Property and Lodging.

Why are Real Estate Prices Escalating in Jerusalem?

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.

Tel Aviv and Jerusalem, are now going through what is known as the Manhattan phenomenon

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."

Ofer group in talks on selling israel real estate assets

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.

Israel richest real estate families control 34 percent of top income

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.

Al-Rov may sell real estate unit for $593 mln

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.

Kfar Shalem residents rigged bomb over land ownership row

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.

Holocaust restitution group supplements list of known property in Israel

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.

The Israel Arison wants people to know

He quickly slid into a new business life, establishing a major real estate and construction company and leading the purchase of Bank Hapaolim, Israel'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.

Stocks have risen 40% since Second Lebanon War

The biggest gainers over the past 12 moths were real estate shares, with the Real Estate-15 index up 53 percent, even though it has stagnated over the last few months.
Medium- and small-cap Yeter shares showed returns of 52 percent, but the banks have significantly underperformed with only a 8.6 percent gain for the entire year.

A year after a costly war: Nahariya real estate

The same businessmen investing money in Nahariya still fear their town, like the whole country, is in grave danger and believe another war is a matter of time. Last year's war began when Hezbollah guerrillas crossed the Israel-Lebanon border and attacked an Israeli patrol, killing three soldiers and capturing two others.

Israel's Property to buy stake in UK Hilton

Israeli real estate company Property and Building Corp said on Thursday it had joined a group to buy the Hilton Cardiff hotel in Britain for a joint investment of 35.3 million pounds ($71.8 million). Property said in a statement to the Tel Aviv Stock Exchange it had a 20 percent stake in the acquisition, with Israel's Destiny owning 20 percent, and Britain's Tonstate Group owning the remaining 60 percent.

Gaydamak to buy Bikur Holim Hospital

Israeli-Russian businessman Arcady Gaydamak has won the tender for the Bikur Holim Hospital in Jerusalem.Over the last few months, Gaydamak has been competing over the purchase of the hospital in what has been a well-documented race.

Tel aviv hotel land for sale

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'Lipstick' building in New York sold to Israeli investors

JERUSALEM: Tao Tsuot and Financial Levers, two Israeli investment companies, said Sunday that they were leading a group that has agreed to buy the "Lipstick" building in Manhattan for $648.5 million. The Israeli companies said that they would own 70 percent of the building at 885 Third Avenue, on East 53rd Street, in New York. Investors including Marciano Investment and Metropolitan Real Estate Investments will own the rest, Tao and Financial Levers said in a statement.

Jerusalem hotel land for sale

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Foreign investment in israel properties totaled $784 million during the first half of 2007

The Bank of Israel said that the extensive purchase of apartments by foreign residents was a direct continuation of the trend that began with the end of the second intifada in mid-2003, and that the trend was growing stronger. Foreign investment in israel real estate has totaled $4.71 billion since the beginning of 2003 and $5.3 billion since the beginning of 2000.

Israeli real estate Isralom Properties is in talks to buy about 20 percent of Olimpia Real Estate Holdings

Isralom said in a statement it was in talks to buy about half of a 39 percent controlling stake in Olimpia but there was no certainty the talks would lead to an agreement. Olimpia owns a 29 percent stake in Dutch Nanette Real Estate Group (NAT.L: Quote, Profile, Research), which has residential projects in Hungary, Romania, and Poland.

The israel real estate market is hot

Israel property "In summer, there is a 25-percent increase in the number of real estate transactions, in sales and, to a greater extent, in rentals," explains real estate price-list editor and market analyst Levi Yitzhak. "Anyone who can will postpone moving till the summer months, when children are on vacation from school and it is easier to take time off from work. Apartments typically require renovation and work, and during the summer these are unaffected by weather-related hazards that can interfere at other times. So, most transactions take place during the summer months and prices increase."

Israel Real Estate marketing budgets tripled in recent years

"If five years ago you could market a residential project at a cost of one percent to 1.5% of sales, today marketing costs have risen to between 4.5% to 5% of the total sales of the project," said Dror Ohev Zion, managing director of Dara. "The expenditure for marketing a project has increased significantly over the past five years as a result of a number of factors including a rise in standards in terms of presentation and demonstration to the client, fierce competition in the marketing of residential projects and the increased need to venture out to foreign markets."

Foreign haredi real estate have brought in some $1.2 billion

According to Bruno Bisroir, one of the committee's organizers, "Jerusalem Bank, which specializes in mortgages from real estate buyers in the haredi sector, grants an amount of NIS 300 million-400 million (about $71million-94 million) per year in mortgages for hardei and religious foreign residents, for the purpose of purchasing apartments across the country."

Real Estate Titans Split in Messy Divorce

“If Mr. Boymelgreen is managing his business through the newspapers, it’s his own prerogative,” Rotem Rosen, the American CEO of Leviev’s company, Africa Israel, told the Forward. Led by Rosen, Africa Israel has made a big show of its new independence in New York, buying up the New York Times building for $525 million in April. A few weeks later, Africa Israel paid a reported $200 million for the famous Clock Tower building on Madison Avenue.

Ahouvi Ravad real estate value triples in five months

He must have the golden touch, or at least shareholders of Ravad (TASE: RAVD) think he does. In the five months since Egal Ahouvi bought the controlling interest in the real estate company, its market cap in Tel Aviv has more than tripled.

Lev Leviev: How to make billions

Lev Leviev didn't miss a beat. It was evident that his answer, ostensibly off the top of his hat during the interview, had been prepared in advance: "Seven billion dollars by year-end," he said confidently, and smiled.