Following a week when Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY), controlled by chairman Lev Leviev, was forced to sell lots in the company's Savyon residential project for bonds instead of cash, and when Hilton Hotels was granted by the courts a temporary attachment of a lien on up to NIS 97 million of assets of subsidiary of Alrov (Israel) Ltd. (TASE: ALRO), controlled by chairman Alfred Akirov, on the grounds that the company is close to insolvency, there is no need to tarry and explain the terror of homebuyers about the financial soundness of Israel's contractors.
As such, "Globes" has ranked 17 public residential real estate developers that focus on domestic projects. The rankings are based on four factors: ratio of equity to total assets; two-year net profit; two-year cash flow; and cash and cash equivalents.
