The Shufersal (Tase: SAE) supermarket chain and the large shopping centers (Tase: Big) have signed a Arement Wasby Shufersal will sell to the great half of the land in what is located its central office, 110 Dunams in Shmotkin Street in East Rishon 200 million.
Companions will act together to promote an urban construction plan for the construction of a large fashion shopping center on the site that will contain 50,000 square meters of commercial space and offices.
A schedule has not been established to build the complex and approval of the urban construction plan could take years, but it is not unlikely that immediately after the reports of the agreement, the Big, there are Galis, has begun to receive approaches to possible tenants.
At present, the site is occupied by the Central Office of Shufersal, a branch of the universe (the new Shufersal discount chain) and a logistics center. It is possible that the central office is there and occupies the new office space that will be built, in the line of the great fashion complex in Petah Tikva, where the Fox-Wizel fashion chain (Tase: FOX) bought the offices building to get on when it was structured in white. Open in 2029.
At the same time, in the rest of the site, Shufersal will build residential towers containing approximately 2,000 apartments, probably in collaboration with another developer.
Unlike its main competitors in shopping malls, azrieli (tase: azrg) and melisron (tase: mlsr), which in recent years have entered the residential sector (azrieli recently acquired residential real estate company) and taseh) and taseh) and taseh) and taseh) and taseh and taseh and taseh and taseh) and taseh) and taseh) and taseh) and Hammh) and taseh) and Hammh) and Hammh) and Hammh) and Hammh) and Hammeh and Hammh and Hammeh) and Hammeh) and Hammeh) and Hamwrony) and Hammeh) and) and Hammeh) and Hamq. Development), Big still declares that he intends to stay focused on commercial and offices sectors, in the development of protected housing.
In any case, the agreement between the two companies still expects compliance with the previous conditions, including the approval of the Urban Construction Plan and the consent of the Planning and Construction Committee of the ambitious project.
Meanwhile, investors have shown that they like the announcement of the two companies. The price of Shufersal shares increased 6% yesterday (it has increased by 13% for the year to date) and Big increased 2.3% (24% for the year to date).
Shufersal, the largest supermarket chain in Israel, controlled by the Yossi and Shlomi Amir brothers, has 431 branches. His last finances showed an acute decline in sales. Now, among other things due to the limited number of new branches that can still open, it seems that the brothers are emphasizing the real estate assets of the group.
The value of these assets, 80 in number, is estimated at NIS 5.2 billion, and involve extensive construction rights. The agreement with Big is seen as a sign of things to come, and Shufersal believes that he is attentive to more opportunities.
Posted by Globes, Israel Business News – Y.globes.co.il – on September 10, 2025.
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