Liora Ofer explodes in the quarter and sweeps a profit of hundreds of millions

by time news

Liora Ofer (Photo by Vardi Kahana, pixabay)

Melisron, which is controlled by businesswoman Liora Ofer, ended the third quarter of the year with a profit attributable to shareholders of approximately NIS 293 million, compared with approximately NIS 78 million in the corresponding quarter last year. The FFO in the third quarter of 2021 peaked at NIS 201 million, compared to NIS 141 million in the corresponding quarter last year and compared to NIS 180 million in the corresponding quarter in 2019.

The NOI attributed to the owner increased in the third quarter to NIS 281 million, compared to NIS 230 million in the corresponding quarter last year and compared to NIS 274 million in the corresponding quarter in 2019. The NOI attributed to the owner in the quarter, before the effect of Corona New construction in Ofer HaKryon would have amounted to NIS 290 million.

From the opening of the malls at the end of February this year until the end of September, there was a significant increase in revenues of about 6% in Mlisron malls, compared to the corresponding period in 2019.

Melisron has updated its revenue forecast from the Landmark flagship project in the Sharona Tel Aviv complex (held with a partner in equal parts) from NIS 190 million at the beginning of the year to NIS 290 million – as a result of unprecedented demand for office space from large high-tech companies.

Melisron Chairman Liora Ofer: “This is the second consecutive quarter in which the company’s malls have been fully operational, with almost no restrictions and millions of visitors have come to them and enjoyed a shopping and entertainment experience at the highest level. The strong results we present reflect the resilience of Melisron in malls and office operations, which is gaining renewed momentum and unprecedented demand. We are working to continue to improve our existing assets, along with expanding the portfolio and creating new growth engines. ”

Ofir Sarid, CEO of Melisron: “The strong results in the third quarter indicate continued momentum in Melisron’s operations. Visitors are once again spending time in malls, the demand for expanding commercial space is growing and we are working to improve the centers and the mix of tenants and businesses.

“Last August, we completed the acquisition of Gruper as part of the development of the company’s digital arm, a move that will strengthen the customer’s entertainment and shopping experience, along with creating added value for tenants.

In the flagship project LANDMARK (held with a partner in equal parts), we are conducting advanced negotiations on all areas of Tower A whose construction is expected to be completed by the end of 2023 (when the first contract has been signed) as well as parts of Tower B areas whose construction is expected to be completed in 2025.

“At the same time, Melisron continues the momentum of initiating existing properties to the extent of 370,000 square meters, for the use of offices, commerce and residences that are in various planning stages and to implement its strategic plan in order to grow and diversify its long-term sources of income.”

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