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.
History
Azrieli Group started its activities in 1982, developing the
Ayalon Mall
Ayalon Mall ( he, קניון איילון, ''Kanyon Ayalon'') is a mall in Ramat Gan, Tel Aviv District, Israel.
History
Opened in July 1985, Ayalon Mall was the first mall in Israel to have a large shopping complex outside the city centre with a ...
in
Ramat Gan, which opened in July 1985.
The group opened its second mall, Hanegev Mall in
Beer Sheva
Beersheba or Beer Sheva, officially Be'er-Sheva ( he, בְּאֵר שֶׁבַע, ''Bəʾēr Ševaʿ'', ; ar, بئر السبع, Biʾr as-Sabʿ, Well of the Oath or Well of the Seven), is the largest city in the Negev desert of southern Israel. ...
, 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
The Kazakhs (also spelled Qazaqs; Kazakh: , , , , , ; the English name is transliterated from Russian; russian: казахи) are a Turkic-speaking ethnic group native to northern parts of Central Asia, chiefly Kazakhstan, but also parts o ...
.
Its investment in
assisted living facilities for the aged made up 7% of its assets as of 2020.
In July 2019, Azrieli acquired 20% of US-based
Compass, to compete in the
data center
A data center (American English) or data centre (British English)See spelling differences. is a building, a dedicated space within a building, or a group of buildings used to house computer systems and associated components, such as telecommunic ...
real estate business.
In 2021, Azrieli acquired Green Mountain, AS for $2.8 Billion.
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 91-story building or 350-meter (1,150-foot)-high and would become the second-tallest structure in the country.
See also
*
Economy of Israel
The economy of Israel is a developed free-market economy. The prosperity of Israel's advanced economy allows the country to have a sophisticated welfare state, a powerful modern military said to possess a nuclear-weapons capability, modern inf ...
References
External links
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{{Authority control
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