The huge Dan parking lot near the entrance in Ramat Hachayal will become a project of over 700 apartments that will yield close to NIS 2 billion. The plan for the complex includes towers alongside private homes, when public buildings will also be erected.
About a year ago, Dan Transportation reported the entry of 2 strategic investors: Valio Base and the LBH Fund. The two entities invested about NIS 450 million for 40% of the company. In addition, the companies agreed that within 3 years the company will be issued on the stock exchange.
The two new entities in the company outperformed other large companies that competed, including the Fortissimo Foundation, the Phoenix, the Weil Brothers Group and Moti Ben Moshe Blue Square Real Estate. In addition, following the Group’s investments in advanced technology companies in the field of public transportation, such as electronics, Hopon, Babel travel service and more, Dan will plan and deepen its investments in the field of innovation and advanced technology in public transportation.
As part of the completion of the transaction, Ofir Karni was appointed CEO of the group. Karni, who until now served as the group’s CFO. The former CEO of the group, Ofer Zilbiger, has been appointed co-chairman together with the current chairman, Shmuel Refaeli.
Dan is one of the largest transportation companies in the economy. But it has high-value real estate assets, with the Dan parking lot in Ramat Hachayal probably being the “diamond in the crown.” Buyers already knew about a year ago that the value of the real estate would improve.
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