BDI CODE 2014 - Israel's Leading Companies, Law Firms, Accounting Firms, Best Companies To Work For - page 433

DEVELOPMENT & INCOME
GENERATING ASSETS
BdiCode 2014
433
In 2013, the aggregate income of the 28 leading companies in the field of real
estate development and income-generating assets totaled at NIS 20.6 billion,
much like in 2012. The vast majority of the leading companies’ incomes is
attributed to the public companies, holding 96% of the revenues, a total of
NIS 19.8 billion. In the office real estate market we continue to note a rise in
the areas up for rent, especially in the Tel Aviv and surrounding area (B’nei
Brak, Petah Tikva, and Ramat Gan); the ensuing slackened rate of increase in
demand results in a slight decline in rental prices.
The Gazit-Globe company – personally and through the companies it holds
– engages in the development and management of income-generating assets,
especially in supermarket-anchored commercial centers in Israel, North America,
Europe and Brazil. Gazit ended 2013 ranking first place with 577 properties,
43 fewer than in 2012, valued at NIS 76.7 billion, much like in 2012. In 2013
the company increased the scope of its investments to NIS 6.9 billion compared
to NIS 5.7 billion in the previous year. The Company ended the year with an
income of NIS 6,940 million, much like in 2012. Following an asset realization
valued at NIS 2.2 billion, in June 2014 the Company announced the sale of
six medical office buildings in the US through its American subsidiary ProMed
Properties, for the consideration of 200 million USD.
Jerusalem Economy Ltd., the Company ranked second-place, ended 2013 with
an income of NIS 2,053 million, a 7% decrease compared to 2012. In 2013
the company sold two properties in Canada; in June the company sold all its
holdings in the Bridlewood Mall for the consideration of NIS 223 million, and
in April the company announced the sale of its holdings in Northgate Mall,
another Canadian mall, for NIS 222 million. In February 2014 the company sold
6%of its holdings in its public subsidiary, Industrial Buildings Corporation Ltd.
(IBC), for NIS 125 million. In December 2013, IBC – ranked 8th place – signed
the subsidiaries’ memorandum for the sale of a plot in the project in Bankok
Thailand, for the consideration of about NIS 240 million.
Melisron, ranked third place, concluded the year with an income of NIS
1,284 million, a 5% decline compared to the previous year. The company
ranked fourth place, Property and Building Corp, concluded 2013 with a 7%
decrease in income at NIS 1,067 million. Alrov, ranked fifth place, registered
an increase of about 11%, ending the year with an income of approximately
NIS 906 million.
Isras Investment Co., ranked no. ten, operates in two primary fields: income-
generating real estate, and real estate for residence and sale. Inter alia, the
company holds the Technology Garden in Jerusalem, an office building in
Ramat Hachayal, Tel Aviv, and the Ha’Ogen Domain in Netanya. The company
concluded 2013 with an income of NIS 598 million. In August 2013, Amot
Investments, ranked 11th place, purchased the Clal Building in Tel Aviv at NIS
97 million. About half a year later the company signed an agreement with
Patel Hotels to transform the building into a business hotel in exchange for
an annual payment of approximately NIS 11 million.
Ranked no. 13 was Africa Israel Properties, active in eight countries in Europe,
as well as in Israel. The company concluded 2013 with an approximate 17%
increase in income, at about NIS 433million. InMay 2014 Africa Israel Properties
raised NIS 200 million by issuing a series of bonds (Series G). Carasso Real
Estate ended this past year ranking 22nd place, with an income of about NIS
175 million. The company is developing four residential real estate projects to
be put for sale, in Hod Hasharon, Jerusalem, Tel Aviv and Petach Tikvah.
The Vitania Company, ranking 23rd place, concluded 2013 with a revenue of
about NIS 162 million. Among the assets held by the company can be noted
Beit Ampa and the Verint Building in Hertzeliya Pituach, Hatachana Venue in
Tel Aviv, and Ziviel Building in Ramat Hachayal, Tel Aviv. Ranked next, as no.
24, is the Aura Group with an income of approximately NIS 160 million. In
March 2014 the company purchased land in Yehud for about NIS 63 million.
The company is expected to build 5 residential buildings and commercial
areas extending over an area of 4,000 m2 on this land.
The Aspen Group, ranked no. 25, concluded 2013 with an income of NIS 119
million. In December 2013 the company purchased, through a subsidiary, an
office building near Munich used by the international fashion chain Escada, at
NIS 103 million. Also in Germany, in January 2014 the company purchased,
in collaboration with the Shlomo Company, an office building in Stuttgart at
approximately NIS 170 million.
The BSR Group ended 2013 with an income of approximately NIS 65 million.
In August 2013, the group, ranked no. 28, began working on a project valued
at approximately NIS 1.3 billion for the construction of 2 office buildings, 40
floors highs, on Yigal Alon St. in Tel Aviv. The company will be constructing
the Suzuki Tower, as well, also on Yigal Alon St. in Tel Aviv, at an estimated
cost of NIS 260 million.
17
18
19
20
21
22
23
2009
2010
2011
2012
2013
18.6
21.9
20.5
20.7
20.6
יליארדי שקלים(
Pu
Income of leading development and income-generating
assets companies, by year (in NIS billion)
Development & Income Generating Assets
Distribution of the aggregate income of the ranked asset
and real estate companies, between public and private
companies in 2013 (In financial terms)
17
18
19
20
21
22
23
2009
2010
2011
2012
2013
18.6
21.9
20.5
20.7
20.6
הכנסות חברות ייזום ונדל"ן מניב המובילות, לפי שנים )במיליארדי שקלים(
2009
2010
2011
2012
2013
הכנסה
18.6
21.9
20.5
20.7
20.6
Privately Held
4%
Publicly Traded
96%
CONTINUED
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