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Senior executives from Gav Yam, opened trading on the Tel Aviv Stock Exchange (TASE) in honor of the company’s 90th anniversary and its 40th years trading on TASE.
Gav Yam is one of Israel’s largest and most seasoned real estate and construction companies, and is a leader in planning, developing, constructing and managing industrial parks and residential neighborhoods throughout Israel.
The company’s current market capitalization comes to NIS 3.5 billion, and its securities are constituents of TASE’s leading indices, such as the TA-90 and TA-125 share price indices, and Tel Bond corporate bond price indices. The company has consistently distributed dividends annually, paying a total of NIS 1.7 billion in dividends over the past decade.
Alejandro Elsztain, Gav Yam’s Chairman remarked: “My brother, Eduardo, and I came to Israel with a vision and a mission to do great things for the country. We endeavored to create a better place for the country’s population, to construct sound and high-quality buildings and to build a better world for the country’s future generations. Gav Yam does great things for the country’s people, driven by its quality staff and work force which hales from all over Israel, from north to south. While we work on property development, people are our main focus; and we are both happy and proud to be part of this creative process and of the Gav Yam team.”
Avi Yakobovich, Gav Yam’s CEO, added: “We are marking the 90th anniversary of Gav Yam’s operations and our 40th anniversary as a TASE-traded company. We continue to demonstrate power and growth, which is expressed in the strength of the demand and the level of rents for our properties as well as in a higher than 98% occupancy rate. Since listing on TASE, the company has flourished and grown, to a point where it currently holds 900 square meters of commercial real estate assets spread throughout the country, as well as 460 thousand square meters of land reserves slated for development in high-demand regions. In addition, we lead in urban development projects covering 250 thousand square meters (the company’s share of which comes to 160 thousand m2). I thank TASE for its cooperation throughout our journey, through which we raised the capital necessary to ensure our company’s growth.
Hani Shitrit Bach, EVP and Head of Listings on TASE said: “this well-established company has served as one of the cornerstones of construction and land development in the country. It has capitalized on its TASE listing to grow its operations through raising both equity and debt on the Exchange. In the past decade alone, it has raised NIS 4.2 billion through 4 corporate bond offerings. Gav Yam is a prime example of a company which has contributed to the Israeli economy -prospering and growing through TASE, enables the public to be part in its success.”
Pictured from right to left: Amnon Neubach, TASE Chairman; Mark Zack, CFO Gav-Yam; Segi Eitan, CEO, Property and Building Corp and Vice-chairman, Gav-Yam; Alejandro Elsztain, Chairman, Gav-Yam; Eduardo Elsztain, Chairman and controlling shareholder, IDB Development; Avi Jacobovich, CEO Gav-Yam; Sholem Lapidoth, CEO IDB Development; Ittai Ben Zeev, CEO TASE and Hani Shitrit Bach, EVP, Head of Listings.
Photography credit: Compliments of Guy Assayag
