Tidhar Harel Manivim has signed a deal to purchase 430 dunams in Acre

The partnership will promote land clearing and the construction of a future project.

Following the Delek Group’s immediate report to the stock exchange this morning, Wednesday, October 13, 2021, regarding an addition to the sale agreement for the sale of real estate in Acre, Tidhar Harel Manivim, which is a joint real estate venture for Tidhar and Harel Insurance and Finance groups, announces that it has signed a deal to purchase 75% of Acre. For NIS 150 million.

Delek Group will continue to hold 25% of the rights in the land.

The companies are exploring the development options of the complex which enjoys building rights of hundreds of thousands of meters for logistics, industrial and storage uses.

Gil Geva, Chairman of the Tidhar Group: “We are pleased with another significant step in our joint venture with Harel and alongside the Delek Group, which is managed by Idan Wells as our project partner. Upon completion of the transaction in the coming weeks and even before proceeding with the planning of the project itself, our main task is to plan the land clearing project and get into its execution as soon as possible. Completion of the purification project is a basic condition for the continued planning and development of the complex and we consider it an obligation and an opportunity for the realization of the corporate responsibility of the companies – in practice.

Sami Babkov, CEO of Harel Finance, Photo: Vardi Kahana

Sami Babkov, director of the investment division at Harel Insurance and Finance, noted that: “Harel’s partnership with Tidhar enables Harel’s colleagues to enjoy a variety of opportunities to take advantage of uncommon opportunities in complex and interesting real estate transactions. A deal to purchase about 430 dunams in Acre, in an excellent location for logistics assets, serves Harel’s ESG concept and the returns we will give to the long-term savings assets we manage. “

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