Yes, NIS 14 billion. That's less than half the value of Africa Israel Investments alone in May 2007, which was the day it floated subsidiary AFI Developments on the London Stock Exchange. That day, Africa Israel was trading at a market cap of over NIS 28 billion.
However astonishing that loss of value, it's the fact: 15 distinguished real estate companies, including the likes of Chaim Katzman's Gazit Globe, Shari Arison's Housing & Construction, Nathan Hetz's Alony Hetz, Leo Noe's British Israel, Eliezer Fishman's Jerusalem Economic Corporation and Lev Leviev's Africa Israel, are together worth less than half the value of just one of them almost two years ago.
