D&B: Israel’s top 5 real estate cos investment up 33% in 2006

D&B Israel reports that Israel’s top five real estate companies invested $12 billion in 2006, up 33% on their investment in 2005. The aggregate shareholders’ equity of these five companies rose 63% in 2006 to $2.5 billion.

The five real estate companies that made the largest investments in 2006 were:

1. Gazit-Globe Ltd. (TASE: GLOB) - $5.18 billion, up 17.3% on 2005;
2. Jerusalem Economic Corp. (TASE:ECJM) (JEC) - $3.42 billion, up 40.3% on 2005;
3. Delek Real Estate Ltd. (TASE: DLKR) - $1.26 billion, up 58.1% on 2005;
4. Alony Hetz Property and Investments Ltd. (TASE: ALHE) - $1.05 billion, up 35.1% on 2005;
5. Electra Real Estate Ltd. (TASE:ELCRE) - $1.04 billion, up 81.6% on 2005.

The aggregate revenue of Israel’s top 30 real estate companies totaled $21.7 billion in 2006.

The Tel Aviv Stock Exchange (TASE) Real Estate 15 index rose 66% in 2006. 33 TASE-listed real estate companies raised an aggregate NIS 3 billion in shares and convertible bonds, and 42 TASE-listed real estate companies raised an aggregate NIS 10 billion in bonds.

Published by Globes [online], Israel business news - www.globes.co.il - on May 20, 2007

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