Rassco (company)
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Rassco (Rural and Suburban Settlement Company) is an Israeli construction and development company. It was established in
Mandate Palestine The Mandate for Palestine was a League of Nations mandate for British administration of the territories of Palestine and Transjordanwhich had been part of the Ottoman Empire for four centuriesfollowing the defeat of the Ottoman Empire in Wo ...
1934 at the initiative of the
Jewish Agency The Jewish Agency for Israel (), formerly known as the Jewish Agency for Palestine, is the largest Jewish non-profit organization in the world. It was established in 1929 as the operative branch of the World Zionist Organization (WZO). As an ...
.


History

The company's initial goals were the establishment of agricultural settlements and industrial enterprises to assist in the absorption of German Jewish immigrants. Rassco was intended to be the central instrument for middle-class settlement and housing in Palestine.Housing in Israel: Economic and Sociological Aspects - Haim Darin-Drabkin
/ref> The founders were Yeshayahu Foerder, Georg Landauer, Ludwig Pinner,
Arthur Ruppin Arthur Ruppin (; 1 March 1876 – 1 January 1943) was a German Zionist and one of the founders of the city of Tel Aviv.Todd Samuel Presner, ’German Jewish Studies in the Digital Age:Remarks on Discipline, Method nand Media,' in William Collin ...
and David Senator.''Encyclopedia of Zionism and Israel'', edited by Raphael Patai, Herzl Press/McGraw Hill, New York, 1971, vol. 2, p. 936
Chaim Weizmann Chaim Azriel Weizmann ( ; 27 November 1874 – 9 November 1952) was a Russian-born Israeli statesman, biochemist, and Zionist leader who served as president of the World Zionist Organization, Zionist Organization and later as the first pre ...
, later Israel's first
president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university *President (government title) President may also refer to: Arts and entertainment Film and television *'' Præsident ...
, was the first chairman of the board. The company built residential neighborhoods all over Israel, including the Rassco neighborhood in Jerusalem that bears its name. In the 1950s, Rassco was listed on the
Tel Aviv Stock Exchange The Tel Aviv Stock Exchange (TASE; ), colloquially known as The Bursa, is the only public stock exchange in Israel and a public company itself, listed on its own exchange since August 1, 2019. It is regulated by the ''Securities Law (1968)'' a ...
. In the 1960s, Rassco built large-scale housing projects in
Iran Iran, officially the Islamic Republic of Iran (IRI) and also known as Persia, is a country in West Asia. It borders Iraq to the west, Turkey, Azerbaijan, and Armenia to the northwest, the Caspian Sea to the north, Turkmenistan to the nort ...
. In 1970, the Jewish Agency owned over 99 percent of the company shares and elected the entire board of directors. Other enterprises run by Rassco include a metal factory, a prefabricated building company, a hotel and a health resort.


See also

*
Economy of Israel An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with ...


References

{{Reflist Jewish businesses established in Mandatory Palestine Jewish Agency for Israel Construction and civil engineering companies of Israel 1934 establishments in Mandatory Palestine Construction and civil engineering companies established in 1934