The projects include the purchase of 50 apartments in the yard project in the Neve Sharet neighborhood, in Tel Aviv, as well as the construction of 3 projects within the tenders of the government company “Apartment for Rent”, in the cities of Beer Yaakov (279 units), Rishon Lezion (78 units) and in the Malcha neighborhood In Jerusalem (99 housing units).
Yossi Dori, Deputy CEO and Director of the Investment Division at Clal Insurance and Finance“Clal Insurance and Finance is expanding its exposure and investment in the field of residential projects in Israel. In the last two years alone, we have invested NIS 2.5 billion in housing projects in Israel, amounting to about 1,700 housing units. Our extensive experience in the real estate world, in Israel and abroad. “Allows us to continue investing for our colleagues in leading real estate projects, such as the current deal to finance 4 rental housing projects in Israel that include 506 housing units, joining a long line of projects that Clal Insurance and Finance has funded in recent years.”
Last week, the company reported the purchase of 17% of Cinema City shares, at a company value of NIS 500 million before cash. The company’s founders, the Edri families from the owners of United King, the Hadida family and the Cohen family, will continue to hold more than 50% of the company’s shares even after the transaction and will remain its controlling shareholders and lead its management.
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