Azrieli Group
Type | Public company |
---|---|
TASE: AZRG | |
Industry | Real estate, properties |
Founded | 1982 |
Founder | David Azrieli |
Headquarters | , Israel |
Key people | Nanami Alauof-Azrieli(Chairwoman),[1] Eyal Henkin (CEO)[2] |
Products | Shopping malls, offices, senior homes, data centers, e-commerce, hotels, rental housing
|
Revenue | US$957 million (2019)[3] |
US$579 million (2019)[3] | |
Website | investors |
Azrieli Group is an Israeli real estate and holding company, which builds, operates, and manages 18 shopping malls, 15 Office towers, senior homes projects, data centers, hotels, rental housing,[3] and the Omnichannel retail site, one project by Azrieli,[4] and Azrieli.com Website.[5]
History[]
The Azrieli Group was founded in 1982 by the late Mr David Azrieli. It was originally called Canit Investment Managing Ltd. Its first project was the Ayalon Mall in Ramat Gan, which opened in July 1985, and brought American-style shopping to Israel.[6] This was the first time Israel had a shopping complex located far from the city, surrounded by a parking lot. David Azrieli invented a Hebrew name for this "mall" in Hebrew, "Kanyon". The word Kanyon is a play on the words "kana," which means "to buy," and "henyon," which means "parking lot". With the establishment of this mall, Kanyon entered the Hebrew language and is now used to describe any covered shopping center and many malls in Israel.[7]
The Group proceeded to grow and opened its second mall, Hanegev Mall in Beer Sheva, in 1989 and a third mall, the Jerusalem Mall, in 1993. In 1998 the Group opened the Azrieli Center a complex of skyscrapers in Tel Aviv. At the base of the center lies a large shopping mall.[8][9] In 2010 the Group went public with a value of 7.5 billion NIS. Its IPO was considered the most successful in Israeli history at the time.[10] It is currently the 6th largest Company traded on the capital market, with a market cap of NIS 29.4 billion.
In 2014, his daughter, , was appointed as Active Chairwoman of the Company's board of directors, after many years in which she served in key positions in the Group. Under the leadership of Danna Azrieli, the company increased it's value from 12 billion nis, to a value of 29.4 billion[11]In July 2019, Azrieli entered the data centers field and acquired 20% of the US-based company Compass.[12][13][14] In July 2021 Azrieli acquired Norwegian data centers company Green Mountain Data Centers for NIS 2.3b.[15] Under the management of Danna Azrieli, Azrieli Group build Azrieli Sarona Tower, skyscraper in the Sarona neighborhood, Tel Aviv, Israel[16][17] also the Company entered new sectors, including data centers, senior homes, hotels, rental housing sectors.[18][19][20][21]
Operations and business[]
The Company is engaged mainly in the development and management of shopping malls and office buildings in Israel. The company is the largest shopping malls company in Israel and manages 13 Shopping malls with about 720,000 square meters. The Azrieli Group is listed in the Tel Aviv Stock Exchange and is included in all leading indices: TA-35, TA-125, TA-Real Estate. [22] The Company's share is included in the EPRA Index. Azrieli Group Rating: AA+ (Ma'alot S&P); Aa1 (Midroog Moody's) Leverage ratio of only 26%, and equity to assets ratio of 51%. The Azrieli Group has set itself to reduce the amount of waste going to the landfill in all of its assets and raise the amount of recycling produced by the waste in its assets based on the belief that environmental preservation is for the benefit of the country and the globe. The company started a pilot project for waste reduction at the Azrieli Center, Tel Aviv in 2020, and wants to implement this program in 10 more assets by 2022.
Holdings[]
The Company owns income-producing properties with a total leasable area of 1,334,000 m2, 12 additional projects under construction, and six projects under renovation and expansion. The average occupancy rate in Israel of 98.[23]
Shopping malls[]
20 Malls and Retail Centers, including:
- Ayalon Mall – The first mall to be opened in Israel in 1985. Situated in Ramat Gan, near the Ramat Gan Stadium.
- Azrieli Center, Tel Aviv[24]
- Jerusalem Mall (Malha) – an indoor shopping mall in the southwestern neighborhood of Malha, Opened in 1993.[25]
- Hanegev Mall – Built in Beer Sheva, the capital of the Negev, in 1990.
- Sarona Mall in Azrieli Sarona Tower
- Hod Hasharon Mall
- Herzliya Outlet
- Givatayim Mall
- Azrieli Holon Center
- Rishonim Mall
- Holon Mall
- Ramla Mall
- Azrieli Ra'anana
- Haifa Mall
- Akko Mall
- Modi'in Mall
- Or Yehuda Outlet
Office buildings[]
13 Office buildings including:
- Azrieli Towers – a complex of skyscrapers in Tel Aviv. At the base of the center lies a large shopping mall
- Azrieli Sarona Tower a skyscraper in the Sarona neighborhood, Tel Aviv[26]
- Azrieli Holon Business Center – A business and leisure park established in 2013, with four buildings next to the Holon interchange.[27]
- Caesarea
- Herzliya
- Mikve Israel Tel Aviv
- Modi'in
- Modi'in Residences
- Petach Tikva
- Jerusalem
- Azrieli TOWN[28][29]
- Azrieli TOWN Building E
- Givatayim
- Hanegev
- Rishonim
- Hamanor
Senior Homes[]
Overseas[]
Although 90% of the Group's value of investment and under construction income producing properties (on a consolidated basis) are attributed to real estate in Israel, the Company has vast investments overseas as well. It invests in the following projects: Galleria, 1 Riverway, 3 Riverway, Plaza, 8 West, Aspen II, San Clemente, Leeds
Other holdings[]
- One Project by Azrieli Website
- Azrieli.com Website
See also[]
References[]
- ^ Danna Hakim Azrieli – Chairman, Azrieli Group Ltd, Bloomberg
- ^ Company Website, Azrieli Group Website
- ^ Jump up to: a b c Azrieli Group LTD Periodic Report 2019, Azrieli Group LTD website
- ^ One Project by Azrieli Website
- ^ Azrieli.com Website
- ^ Ron Csillag, Mall Man from Montreal David Azrieli brought American-style shopping to Israel, The Globe and Mail Website, June 18, 2014
- ^ Jeremy Benstein, On Root / Buying into Consumerism, Ha'Aretz Website, July 29, 2012
- ^ Yudelman, Michal (April 1, 1998). "Tel Aviv's Azrieli Center opens to the public". Jerusalem Post.
- ^ Azrieli Center Circular Tower, EMPORIS
- ^ Yael Gruntman, Institutions Overwhelmed by Azrieli IPO, Globes English Website, June 1, 2010
- ^ Shlomit Lan and Hadas Magen, The Heiress to the Azrieli Empire, Globes English Website, August 12, 2014
- ^ Aviv Levy and Shany Moses, Azrieli invests $135m in North American data centers, Globes Website, July 18, 2019
- ^ Reuters Staff, Israel's Azrieli buys stake in data centers firm Compass for $135 million, Reuters Website, July 18, 2020
- ^ Omri Zerachovitz (August 2, 2020). "Amazon in talks to build three Israel data centers for NIS 1b". Globes. Retrieved August 3, 2020.
- ^ Omri Cohen, Azrieli Group buys Norwegian data centers co for NIS 2.3b, Globes Website, July 19, 2021
- ^ "Azrieli Sarona". The Skyscraper Center.
- ^ "tower's plan" (PDF). Archived from the original (PDF) on April 19, 2016. Retrieved October 25, 2016.
- ^ Shlomit Tsur, Work begins on Azrieli Center's 'spiral' tower, Globes Website, December 19, 2018
- ^ India Block, KPF unveils scrolling supernal Tel Aviv skyscraper that will be Israel's tallest building, January 4, 2019, dezeen website
- ^ Naama Barak, Israel's tallest tower to be added to Tel Aviv landmark, Israel21C, December 27, 2018
- ^ Tofi Stoler and Billy Frenkel, Scrapped London Skyscraper Set to Dominate Tel Aviv Skyline, Calcalistech website, December 20, 2018
- ^ Ron Csillag, Mall Man from Montreal David Azrieli brought American-style shopping to Israel, The Globe and Mail Website, June 18, 2014
- ^ Kobi Yeshayahou and Shany Moses, Azrieli ends 2019 strongly ahead of virus challenge, Globes English Website, March 25, 2020
- ^ Naama Sikuler, Construction of square Azrieli tower completed, Ynet, May 6, 2007
- ^ Nir Hasson, Jerusalem Mall: Where Arabs and Jews Shop Together, Haaretz English website, September 22, 2010
- ^ Azrieli Sarona Tower Tel Aviv, in Tall Buildings and Urban Habitat Website
- ^ Guy Nardy, Holon challenges Herzliya as tech office center, Globes English Website, February 12, 2020
- ^ Abigail Klein Liechman, How co-work offices became the unexpected winners of COVID, Israel 21C, March 1, 2021
- ^ Dror Marmor,Azrieli does not fear rivals, Globes English Website, January 2, 2018
- ^ Yoram Ben Porat, The retirement residence: a win-win situation, Jerusalem Post Website, September 23, 2018,
- ^ Shlomit Tsur, Azrieli opens Modi'in sheltered housing project, Globes English Website, October 8, 2018
- Real estate companies established in 1982
- Companies listed on the Tel Aviv Stock Exchange
- Real estate companies of Israel
- 1982 establishments in Israel
- Companies based in Tel Aviv