The real estate market is heating up: Israel Canada sold 151 apartments in November alone – the capital market

Israel Canada Barak Rosen Assaf Tochmeier, Photo: Yachz

Israel Canada sold NIS 151 million worth NIS 438 million in the last month and a half. This is another step that indicates the warming of the real estate market in the last quarter of the year, with a return to the economy’s routine after the period of the corona closures. Israel-Canada data do not include land or sales of apartments in the project in Russia.

The sales she detailed

Israel Canada
+ 0.25%

Israel Canada






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Includes the Geffen project in Herzliya (owns 50% of the project), Minrav Yam in Bat Yam (50%), Ehad Ha’am and Midtown in Tel Aviv (81%), Minrav al Hayam in Acre (50%) and the reserve in Haifa (50%). The project in Herzliya has so far generated the highest revenue, about NIS 330 million, with 114 apartments sold so far, which constitute 45% of the total project. The project in Bat Yam generated about NIS 85 million, after the sale of 30 apartments that constitute 47% of the project.

Israel Canada’s share in the sales it reported is about NIS 225 million. These are encouraging data for the company, which recorded a decrease in revenues of NIS 26 million and NIS 39 million, respectively, in the second and third quarters of the year. Net profit fell to NIS 4.5 million and NIS 2 million, respectively. The company’s revenues in the first three quarters are NIS 153 million.

Israel Canada, is a yielding real estate company, which soon intends to issue a new series of bonds on the stock exchange (Series G). In a road show she conducted, prior to the IPO, the institutions asked her to receive an update on the pace of sales progress in the various projects she owns in Israel.

Israel Canada’s market capitalization is estimated at NIS 2.1 billion, after the company’s share rose almost 30% in the last 12 months. This is despite the assumption that income-producing real estate will be among the main victims of the spread of the corona virus over time because of the reduction in demand for offices.

Israel Canada even used the consequences of the virus to submit a proposal for a triple merger with the real estate company








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, Which after its completion will become the Donitz Brothers Company a private company. After re-examination, it was decided to cancel the merger.

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