Azrieli Group

Azrieli Group is an Israeli real estate and holding company named after its founder David Azrieli. The company is engaged mainly in the development and management of shopping malls and office buildings in Israel.

Azrieli Group Ltd.
TypePublic
TASE: AZRG
TA-35 Index Component
IndustryReal estate, financial services
Founded1982 (1982)
Headquarters
Tel Aviv
,
Israel
Key people
Eyal Henkin (CEO), Danna Azrieli (chairwoman)
Websitewww.azrieli.com

History

Azrieli Group started its activities in 1982, developing the Ayalon Mall in Ramat Gan, which opened in July 1985.

The group opened its second mall, Hanegev Mall in Beer Sheva, in 1989 and a third mall, the Jerusalem Mall in 1993.

Between 1996 and 2007, the group developed the Azrieli Center in Tel Aviv, a complex that includes three office buildings above a shopping mall.

In 2014, it sold paint manufacturer Tambour to the Kusto Group, a corporation registered in Singapore and owned by Kazakhs.[1]

Its investment in assisted living facilities for the aged made up 7% of its assets as of 2020.[2]

In July 2019, Azrieli acquired 20% of US-based Compass Holdco to compete in the data center real estate business.[3] In 2021, Azrieli acquired Green Mountain, AS for ₪2.8 Billion.[4][5]

In January 2022, permission was given by the Tel Aviv local planning and building committee to build the Spiral Tower at the Azrieli Center, which will be a 350 m (1,150 ft) tall, 91-storey building and would become the second-tallest structure in Israel after the Dimona Radar Facility.[6]

See also

References
  1. "Tambour Chairman: "Israelis are afraid of colorfulness"". Israel National News. Retrieved 3 February 2022.
  2. "Israel's Azrieli Group Couldn't Be Better Mall Owners, but Coronavirus Doesn't Care". Haaretz. Retrieved 3 February 2022.
  3. Omri Zerachovitz (2 August 2020). "Amazon in talks to build three Israel data centers for NIS 1b". Globes. Retrieved 3 August 2020.
  4. "Azrieli Group Ltd's NIS 2.8 Billion Acquisition of Green Mountain, AS". Lawyer Monthly | Legal News Magazine. Retrieved 19 January 2022.
  5. "Azrieli Makes Bigger Data Center Bet with Green Mountain Acquisition". Data Center Knowledge. 19 July 2021. Retrieved 19 January 2022.
  6. Brummer, David. "Tel Aviv greenlights construction of one of Israel's tallest towers". www.timesofisrael.com. Retrieved 19 January 2022.
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