The intense upheaval that afflicts the stock exchanges around the world, with an emphasis on technology shares, is not yet leading to a change in the office real estate industry in Israel. Arrow believes that for the time being, even in the face of the avalanches, high-tech companies will be able to return to raising stock exchanges later on and the industry will recover.
“I do not expect the stock exchanges to be closed to high-tech companies for a period of 4-5 years,” he says Arrow to Globes. The Nasdaq, which is technology-biased, has fallen by about 28% since the beginning of the year. When the general trend in the markets is negative. Arrows At the end of trading today, it fell by 3.8% to a price that embodies the company’s market value of NIS 7.94 billion. Since the beginning of the year, the company’s share has fallen by 20.4%. Aloni Hetz is indirectly affected by what is happening in the fields of technology, because it controls, among other things (53.9%) the company I will die Its office space branches in areas of demand. For example, builds Amot together with Sea back The Toha-2 tower in Tel Aviv, which will be completed in four years and whose areas are designated for technology giants.
Arrow points out that while for high-tech workers, the stock collapse may have been affected by dwarfing the value of the options they received, the companies themselves have already raised billions of tangible dollars last year, so their sense of distress is smaller. And beyond that he estimates that even the current turmoil in the markets will eventually be forgotten and the markets will reopen for capital raising, with an extreme scenario where the stock exchanges are unavailable for technology stocks for a number of years, is unlikely among them.
“In Israel as well as in the United States, there has been an increase in prices in housing prices (due to the enrichment of high-tech workers, H.S.). “Raise the money for their coffers. And these are billions of dollars raised. Therefore, in the ‘scooter area’ of Tel Aviv (the office complexes in the heart of Tel Aviv, HH) – there are still no vacant office space.”
Aloni Hetz owns a variety of activities in the field of income-producing real estate. In addition to holding Amot, it also owns private activities such as Brookton Everlast in the UK, the American car company that operates mainly in Boston and Texas, and the renewable energy company Energix, in which Aloni Hetz owns 53%.
The operating cash flow (FFO) generated for Aloni Hetz’s shareholders from its various holdings in the first quarter amounted to NIS 133 million, an increase of 20% to NIS 133 million compared to the corresponding period. The company’s equity. Aloni Hetz’s total revenues increased by 33% and amounted to NIS 189.4 million in the first quarter. On the bottom line, net profit increased by 45.8% and amounted to NIS 155 million.