Show me an example Israel Real Estate News: June 2009

Monday, June 29, 2009

Sharp drop in number of Israeli millionaires

The report also reveals that while the number of people with more than $1 million in net assets fell 14.9%, the number of millionaires in Israel dropped by an almost double rate of 28%.

A millionaire is defined as a person people with net assets of more than $1 million excluding their main home and everyday possessions. The report ranks an ultra-rich as a person with at a fortune of more than $30 million.

According to Merrill Lynch, the number of ultra-rich in Israel dropped from 97 to 73 in the past year – down 24.6%.

Saturday, June 20, 2009

Israeli company in talks to take a £100m stake in British Land's

A company owned by one of Israel's richest men disclosed yesterday that it is in talks to buy a stake in the City of London's famous Broadgate office complex from British Land.

Property and Building, which is controlled by Nochi Dankner, the billionaire, said in a statement to the Tel Aviv stock exchange that it was in the initial stages of buying a stake in Broadgate for £100 million. Harel, Israel's third-biggest insurance company, said separately that it was looking at investing about £45 million.

Wednesday, June 17, 2009

TheMarker U.S.-Israel business summit, June 24-25, NYC


Last year's Summit was held at another well-known New York landmark - the Plaza Hotel, overlooking Central Park. Guests included then opposition leader and current prime minister Benjamin Netanyahu, New Jersey Governor Jon Corzine, former Citigroup Chairman and CEO Sanford Weill, Prof. Nouriel Roubini and Donald Trump.

Tuesday, June 16, 2009

Israeli CEOs earned more as profits shrank

While investors have had to come to terms with the decimation of profits at some of Tel Aviv's biggest companies, that can't be said of the top managers.

In 2008 the combined profit of the companies listed on the TA-25 index, which tracks the biggest 25 listed companies by market capitalization, dropped by 40% from the year before. That's sobering stuff.
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Yet the average salaries of these companies' CEOs rose by about 30%, to NIS 7.9 million in 2008 (in terms of wage cost), according to a study by the remuneration department at PricewaterhouseCoopers Kesselman & Kesselman.


Sunday, June 14, 2009

Fishman: The price of apartments in Israel is about to rise by 10%.

Real estate developers Eliezer Fishman and Chaim Katzman, who both have investments around the world, in virtually every sector, were the first guests in "Globes" real estate forum. Eliezer Fishman is the controlling shareholder in “Globes”.

Is it not worthwhile investing at home now that the entire world is so stormy?

Fishman: There aren't any opportunities here. In the last recession in Israel (2001-2003) I had 400,000 square meters empty. In this recession I don't have 100,000 square meters empty.

Katzman: We don't sees any changes and if anything there is a strengthening. We are now seeing the shopping mall in Kfar Saba being occupied very successfully.

Fishman: The price of apartments in Israel is about to rise by 10%.. Nobody will build for a 4% margin. So either construction will stop altogether or the price will rise 14%. An apartment that you find today for NIS 1 million will be worth NIS 100,000 more, not in two years time, but in another five months

Friday, June 12, 2009

President of Israel's Gazit-Globe resigns

TEL AVIV, June 10 (Reuters) - Israeli real estate investment company Gazit-Globe Ltd (GLOB.TA) said on Wednesday its president, Michael Bar Haim, was stepping down.

He has held the position since January 2008.

Bar Haim will remain president for a period to be agreed upon with the company, Gazit-Globe said in a statement, adding that the board will announce a temporary replacement in the coming days.

The company did not provide further details.

Gazit-Globe operates in the United States through Equity One Inc (EQY.N), in which it owns 40 percent, and in Canada through 54 percent-owned First Capital Reality Inc (FCR.TO). It is also the largest shareholder in Finland's Citycon (CTY1S.HE) and last year it took over Atrium European Real Estate (ATRV.VI).