The real estate developer and owner of Dona, Shalom Shai, received this week from the chairman of the Capital Market Authority, Dr. Moshe Barkat, the key that will allow him to hold 10% of the Clal insurance company. Unexpectedly, Shalom Shai received a clearance permit from Clal Insurance, which will allow him to purchase an additional 5% on the five percent he currently holds.
This is after businessman Alfred Akirov tried in every way to become the company’s owner, whether through a personal purchase or earlier through Alrov Real Estate, which he controls. Akirov’s move has so far failed due to an internal dispute over the flow of funds to Alrov and its subsidiary, Luca, as well as in light of the Securities Authority’s position that it published its position that Akirov’s control of Clal Insurance would be inconsistent with the Centralization Law.
The first shares in Clal Insurance (about 5%) were purchased by real estate developer Shalom Shai in 2020 for about NIS 100 million, and on paper these shares are currently worth about NIS 285 million. The profit account that he will rake in if he sells his shares can be done by you alone.
The approval received by Shai from the Commissioner of the Capital Market, Moshe Barkat, is in fact sending another signal to Alfred Akirov so that the latter will withdraw his intention to make a purchase that will cause him to take over Clal Insurance. Alrov currently holds about 15% of the shares, and now another real estate company, Dona, will hold 10%.
Who are you, hello Shay
Just five years ago, in 2017, Donna first crossed the NIS 1 billion mark a year, and it seems that since her meteoric success it has continued to swing. To get to know the person in charge of the company, you will have a hard time finding mentions or reviews, not even across the web. In a really brief review we found on the ‘Our Community – Georgia native to Israel’ website (from which we will quote editorial changes below), Natela and Shalom Shai – owners of Donna, an engineering and construction company Ltd., were described as being born in the city of Oni in the Racha region, Georgia.
In 1978, they immigrated to Israel with a one-and-a-half-year-old baby, and in Israel they had three more children. Already in Tbilissi, Shalom acquired a higher education and immigrated to Israel with a diploma in civil engineering. For about two years he worked as a hired building engineer and in the evenings he worked as a security guard, to supplement income. At the same time, his partner, Natela, studied teaching in Israel and worked there for about ten years, when later, in 1994, she joined Donna and worked in a variety of management positions, including today – marketing the company’s projects in Georgia.
Donna was established three years earlier, in 1991, and until then Shalom had been involved in small renovations, when he later built kindergartens and schools.
For over 30 years, Donna has built and is building many neighborhoods all over the country and the world, with thousands of housing units, shopping centers and office buildings in various locations. In 2020, the company sold a record number of 1,219 housing units across the country.
There are very few companies that have built such an amount in Israel in recent years, of about 13,000 housing units in one year, along with tens of thousands more square meters in commercial and office buildings in Israel and around the world.
It should be noted that just about three weeks ago, the company won a tender from the Ministry of Housing, the Israel Land Authority and an apartment rental company to build 334 apartments for rent in the international district of Lod, and last weekend, as part of the marketing boom of long-term leases, it completed another 220 housing units. – When half of the apartments in the complex will be rented for 15 years at a supervised price of about NIS 3,000 per month for a 3-room apartment and about NIS 3,500 per month for a 4-room apartment. The other half of the apartments in the complex will be rented on the free market. Donna Dom won the project at a cost of NIS 160 million, including development. The complex covers 11,021 square meters. And this is just a small taste of the company’s recent activity.
The company’s offices, which were located in Jerusalem, in the Dona Tower in Givat Shaul, recently moved to their new home in the city of Modi’in. In the new city center, on Blvd. The offices are located on a dedicated floor of about 2,000 square meters and contain the departments of accounting, marketing, suppliers and contractors, execution, licensing and planning, tenants department and main management.
The company has arms and companies in other places in the world, in Romania, Georgia and more. Donna Palace is also building international projects in Georgia in the capital, Tbilisi.