Table of Contents Categories
  • Holding companies of Israel
  • Companies based in Herzliya
    •   Encyclosphere.org ENCYCLOREADER
      supported by EncyclosphereKSF

    Israel Canada

    From Wikitia - Reading time: 6 min
    Israel Canada Ltd.
    Public company
    IndustryReal estate
    Founded1995; 29 years ago (1995)
    Headquarters
    Herzliya
    ,
    Israel
    Key people
    		Asaf Touchmair, Chairman of the Board
    Barak Rosen, CEO
    Guy Canada, Chief Finnacial Officer
    Number of employees
    		800
    SubsidiariesIsrael Canada Hotels (ICH), Israel Canada Residence (ICR), Alrove Real Estate and Hotels
    Websiteisrael-canada.co.il/en

    Israel Canada LTD. (Hebrew language) is a Public company-traded Israeli real estate company focused on the ownership, development, and management of income-producing properties for mixed-use including retail, office, Hotel, and luxury residential properties in Israel (primarily in central Israel) and other countries.[1] Israel Canada is listed on the Tel Aviv Stock Exchange, TASE: ISCN. [2]

    History[edit]

    Early Days[edit]

    Israel Canada was founded by Barak Rosen and Asaf Touchmair. The two founders began their careers in the field as real estate agents in a local firm in the early 1990s and decided to collaborate to set up their own real estate company in 1995. The company was renamed "Canada-Israel" after in 2000 they began investing in real estate transactions in Toronto. Later they founded a public company traded on the Tel Aviv Stock Exchange, called "Israel Canada". "Canada-Israel" remained a private company and most of Its real estate activities are concentrated in projects outside Israel, including the Dominican Republic, Russia, and London, while most of the projects in Israel are managed by the public company "Israel Canada".[3][4]

    Current Activity[edit]

    In October 2015, Israel Canada acquired from Paz Oil Company its holding in the shares of Pi Glilot, which owned 164 dunams in the complex near the Glilot Interchange. In addition, it purchased 34 dunams in the complex, in two separate plots, which Paz owned directly, that were used as the company's logistics warehouse and as a distribution center, for a total of NIS 237 million.[5]

    In February 2018, Israel Canada joined the TA-125 Index.[6]

    In 2020 Israel Canada, in cooperation with the Nakash Brothers Group, acquired Minrav Projects which was one of Israel’s top real estate and construction companies. The deal was reportedly worth NIS 574 million.[7]

    In June 2021 the group won the largest land reserve in the central district of Israel, about 1,000 apartments, amounting to more than NIS 2 billion in north Tel Aviv.[8]

    In 2021 Israel Canada Tech Investments (ICT) was established, the company invests in corporations and startups with an affinity for real estate, including property technology, construction technology and renewable energy in all investment stages.[9][10]

    In January 2022 Barak Rosen and Asaf Touchmair, the main controlling shareholders in the Israel Canada Group, acquired 22.6 percent of Norstar, the main controlling shareholder of the Gazit-Globe, an international income-producing real estate company with an accumulation of assets worth NIS 40 billion.[11] In April 2022 Israel Canada launched a takeover bid for Norstar.[12]

    Israel Canada is the main real estate developer in Tzamarot Ayalon, which is ranked as the wealthiest neighborhood in Israel.[13]

    Sponsorships[edit]

    As of the 2021/2022 season, Israel Canada is the official sponsor of Maccabi Tel Aviv F.C.[14]

    Israel Canada's Subsidiaries[edit]

    Israel Canada Hotels (ICH)[edit]

    ICH is a company engaged in the management, development and improvement of hotel properties and under its management thousands of accommodation units currently. Among the hotels that are owned or managed by Israel Canada Hotels: Galei Kinneret Hotel, Tiberias. Lake House Hotel, Tiberias. Nofey Gonen Holiday Village, Gonen|Kibbutz Gonen. Play Midtown Hotel, Tel Aviv. West Tel Aviv Hotel. West Ashdod Hotel. Daniel Dead Sea. Soleil Hotel, Eilat. Play Hayarkon Hotel, Tel Aviv-Yafo.[15]

    It was reported in April 2021 that Israel Canada will establish the first hotel in Israel of the Four Seasons Hotels and Resorts|Four Seasons hotel chain in the city of Tel Aviv-Jaffa in a complex where three 35-45-story towers will be built, including residential, hotel and commercial.[16][17]

    In July 2022 Menora Mivtachim, an Israeli insurance company that is publicly traded on the Tel Aviv Stock Exchange, acquired 15% of the holdings of ICH for NIS 88 million, which reflected a market value of NIS 560 million for the company.[18]

    In September 2022, Israel Canada purchased a hotel in Athens, Greece, for a deal estimated at 10 million euros, with plans to further expand in the city.[19]

    Israel Canada Residence (ICR)[edit]

    Israel Canada's residential arm was established due to the merger of Israel Canada with Minrav Projects, which was a public company traded on the Tel Aviv Stock Exchange. Following the merger, Minrav Projects was delisted from the stock exchange and became a private company, renamed ICR. With the acquisition, Israel Canada began marketing Minrav projects.[20]

    In 2020 it was reported that Israel Canada Rem Residence, will construct an urban-renewal project for Kiryat HaYovel|Kiryat Hayovel at an estimated investment of NIS 650 million.[21]

    Alrov Real Estate and Hotels[edit]

    As of 2021, Israel Canada is the second largest stakeholder (14%) in Alrov Group|Alrov. The company's value is estimated at NIS 4.6 billion.[22][23]

    Norstar[edit]

    As of 2022, Israel Canada is the controlling owner (the largest shareholder) of Norstar, which owns 51% of Gazit-Globe, a global real estate company focused on the ownership, development, and management of income-producing properties for mixed use including retail, office and residential located in densely populated urban cities[24][25]

    Shareholders in Israel Canada[edit]

    Distribution of stakeholders
    Stakeholders % in capital % in voting Market value (In millions of NIS)
    Ben David Ohayon Avraham 19.52% 19.52% 1,206.5
    Rosen Barak 17.13% 17.13% 1,058.4
    Touchmair Asaf 17.13% 17.13% 1,058.4
    Clal Insurance 6.88% 6.88% 424.9
    Menorah Mivtachim 6.87% 6.87% 424.5
    Harel Group 4.9% 4.9% 302.9
    Canada Israel 2.84% 2.84% 175.5
    Harel Group Trust Funds 2.02% 2.02% 125

    References[edit]

    1. ↑ "Israel Canada T.R Ltd - Company Profile and News". Bloomberg.com. Retrieved 2022-05-09.
    2. ↑ "דף הבית - הבורסה לניירות ערך בתל אביב | אתר הבורסה". TASE. Retrieved 2022-05-09.
    3. ↑ "Canada Israel investing £100m in London property". Globes_(newspaper). 2018-04-23. Retrieved 2022-08-14.
    4. ↑ "ISCN.IL | Israel Canada (T.R) Ltd. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2022-05-18.
    5. ↑ "פז נפט מכרה את אחזקתה במניות פי גלילות 
וקרקע במתחם - תמורת 237 מ' ש'" [Paz Oil sold its stake in shares in Pi Galilot and land in the complex - for 237 million]. TheMarker. Retrieved 2022-05-18.
    6. ↑ "דף הבית - הבורסה לניירות ערך בתל אביב | אתר הבורסה". www.tase.co.il. Retrieved 2022-05-09.
    7. ↑ "Real estate giants Israel Canada, Nakash brothers acquire Minrav Projects". The Jerusalem Post | JPost.com. Retrieved 2022-08-17.
    8. ↑ "21-floor tower approved on Tel Aviv's Hayarkon Street". Retrieved 2022-05-18.
    9. ↑ "Israel Canada Tech Investments". Start-Up Nation Finder. Retrieved 2022-08-14.
    10. ↑ Orbach, Meir (2022-02-17). "Exodigo digs up $29 million in Seed funding for 3D subsurface imaging platform". CTECH - www.calcalistech.com. Retrieved 2022-08-14.
    11. ↑ Glikman, Ahron (2022-01-30). "The entry of Rosen and Tochmeier marks the beginning of the end of the Katzman era in Gazit Globe". Time News. Retrieved 2022-05-09.
    12. ↑ "Israel Canada launches takeover bid for Norstar". Globes_(newspaper). 2022-04-24. Retrieved 2022-05-09.
    13. ↑ staff, T. O. I. "Israel's richest neighborhood is just three miles away from its poorest one". The Times of Israel. Retrieved 2022-05-09.
    14. ↑ on, Website StaffPosted (2021-07-01). "Israel – Canada signed a main sponsorship deal with Maccabi". Maccabi Tel Aviv Football Club. Retrieved 2022-05-09.
    15. ↑ "Israel Canada sets up country's newest hotel chain". Globes. 2021-06-16. Retrieved 2022-05-09.
    16. ↑ "Four Seasons to open a location in Israel - report". The Jerusalem Post | JPost.com. Retrieved 2022-08-17.
    17. ↑ "Four Seasons plans first Israel hotel in Jaffa". Globes. 2021-08-04. Retrieved 2022-05-09.
    18. ↑ "Menora joins Israel Canada Hotels | ITN - Israel Travel News". Retrieved 2022-07-27.
    19. ↑ "Israel Canada's hotel company expands to Greece in 10m euro deal". The Jerusalem Post | JPost.com. Retrieved 2022-10-18.
    20. ↑ "Israel Canada, Nakash to buy Minrav Projects". Globes. 2019-12-17. Retrieved 2022-05-09.
    21. ↑ "New large urban-renewal project for Kiryat Hayovel". The Jerusalem Post | JPost.com. Retrieved 2022-08-17.
    22. ↑ "דף הבית - הבורסה לניירות ערך בתל אביב | אתר הבורסה". www.tase.co.il. Retrieved 2022-08-14.
    23. ↑ "ברק רוזן: "אני מעריך שבאלרוב יהיו חילופי דורות כמו במנרב" | כלכליסט". Calcalist (in עברית). 2021-11-02. Retrieved 2022-05-09.
    24. ↑ "Institutional investors have a lot riding on Norstar Holdings Inc. (TLV:NSTR) with 30% ownership". simplywall.st. Retrieved 2022-08-14.
    25. ↑ "Israel Canada launches takeover bid for Norstar". Globes. 2022-04-24. Retrieved 2022-08-14.

    External links[edit]

    Add External links

    This article "Israel Canada" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.

    Licensed under CC BY-SA 3.0 | Source: https://wikitia.com/wiki/Israel_Canada
    17 views | Status: cached on August 29 2024 11:15:40
    ↧ Download this article as ZWI file
    Encyclosphere.org EncycloReader is supported by the EncyclosphereKSF