Ran ben Avraham has been appointed chairman of Tzemach Hammerman, the company reported to the Stock Exchange. Ben Avraham will replace his father, the late Avi ben Avraham, the founder of the construction company and the chairman who passed away earlier this month, and will begin serving as of 1 January 2023.
Ran Ben Avraham has been one of the controlling owners of the company since its inception, he has served for the past 7 years as the Deputy CEO of Zemach Hamerman alongside CEO Haim Feiglin who will continue in his position. In his previous position in the company, he served as the VP of Marketing and Initiation.
Ben Avraham, (53), holds a bachelor’s degree in business administration and industrial and management engineering. He has about 30 years of experience in the Israeli real estate industry and, among other things, together with Haim Feiglin, led the company’s IPO on the stock exchange in 2007. And the introduction of the company into the field of urban renewal, and he is part of the company’s ongoing management over the years.
The founder of the company, Avi Ben Avraham, passed away on December 6 and is 86 years old. Ben Avraham Sr. was a civil engineer by training, and was active in the field of construction and entrepreneurship in Israel for about 60 years. In 1969 he joined the family construction company “Zvi Hamerman” founded by his father-in-law and later managed it. In 1997, the Ben Avraham family joined the company “Tzemach Tishtit” under the management of Haim Feiglin, and together they founded “Tzemach Hamerman”, which today is considered one of the largest construction companies in Israel.
Tzemach Hamerman is a deeply rooted Israeli company, one of the largest and strongest real estate entities in Israel, the company’s shares are traded on the Tel Aviv Stock Exchange at a value of approximately NIS 523 million. The company engages in the initiation and execution of large construction projects and leads the construction of thousands of new apartments throughout the country in entrepreneurship and urban renewal, as well as commercial spaces and offices.The company owns 50% of the construction company Sion Construction and executes projects for leading companies in the Israeli economy using the “Turn-Key” method.
Starting in 2018, the company opened an additional activity arm of real estate yielding for investment as well as an urban renewal department that includes a wide variety of projects all over the country. Currently, the company is in the initiation, planning and execution stages of 29 projects in entrepreneurship and execution, which include 5,155 units and about 40 A thousand square meters of commercial and office space. The company is also involved in 17 projects nationwide, totaling approximately 4,445 housing units in urban renewal.
Ran ben Avraham said, “I am proud to continue in the footsteps of my late father in the company after working together for 30 years and together with CEO Haim Feiglin we will continue to move the company forward successfully in the Israeli real estate market.”