Management of City People opened trading this morning in celebration of its listing on TASE.
City People, an urban renewal company specializing in redevelopment and refurbishment (TAMA 38) projects in Tel Aviv and its surrounding areas, is one of 12 share companies to join TASE since the beginning of the year, following a successful bond issuance in July 2023. Founded in 2007 by three former Israeli Air Force fighter pilots - Ron Chen, Eran Hefetz, and Roy Twizer, City People has established itself as a prominent player in urban renewal. The company is jointly held by its founders and Rotshtein Real Estate, a company listed on TASE since 1993. In 2024, the company reported revenue of NIS 190 million.
The company successfully issued 20% of its share capital to the public, raising NIS 51 million on TASE at a valuation of NIS 251 million.
Ron Chen, CEO of City People: “We thank the investors for their vote of confidence in the company, its operations and its management. We continue to work full steam ahead to boost our position as a leader in urban renewal in the areas where we operate, all while ensuring the highest standard of planning, construction, and customer experience. The recent conflict has significantly increased the demand for urban renewal, driven by the demand for homes with a dedicated protected space and the need to restore damaged structures. This offering will be instrumental in ensuring our continued prominence in this sector."
Oren Elmaliach, Economist at TASE’s Listings Unit: “As home of the Israeli economy, we anticipate more real estate companies will join TASE and contribute to Israel's development - especially now, with the unprecedented need to rebuild and develop so many war-affected areas. I wish the company's management, employees, and partners continued growth, building, and impact - for the benefit of the public, investors, and the Israeli economy.”
In the picture: Ron Chen, CEO and Owner of City People, Gilia Berger Kolitz, VP Operations, Deputy to CEO at City People; Yarden Aharoni, VP Legal & General Counsel at City People; Morr Warszawski Yaniv, VP Finance at City People; Eran Zak, VP Engineering at City People; Eyal Harari, VP Planning at City People; Rotem Winter, VP Business Development at City People; Eran Hefetz, Founder and Director at City People; Avishay Ben Haim, Chairman of the Board of Directors of City People; Roy Twizer, Director at City People; Arik Burstein, Director at City People; Oren Elmaliach, Economist at TASE’s Listings Unit; and Ron Klein, EVP, Head of the Economics Department at TASE.
Photography credit: Vered Farkash, authorized for use for no consideration.
