Afridar

Afridar, a subsidiary of the Elazra Group. operates directly and through its subsidiaries in the initiation, planning, development, construction, and execution of residential units, offices, and commercial space. The reputation acquired by Afridar is based on decades of successful activity, and the delivery of thousands of residential units and office and commercial space. Afridar plans and executes its project while taking into consideration client satisfaction, added-value, and quality of living. The company enjoys the financial strength and close and constructive cooperation with the banking system in Israel, as well as with additional sources of capital, all of which enable it to raise the capital required to develop and lead the urban development in Israel.

Background

Afridar was founded in 1950 by a group of Zionist immigrants from South Africa in order to build and develop the city of Ashkelon. A few years later, the company moved to state ownership and became a government company that dealt mainly with the development of the city of Ashkelon. Afridar acquired land reserves in the city during the 1950’s-1970’s and built the Afridar and Barnea neighborhoods, which it continued to develop over the years. In 2001, the company was privatized and acquired by the Elezra Group. Since then, it has built thousands of residential units, offices and commercial spaces countrywide.

During these years, the company accumulated vast experience and knowledge pertaining to urban renewal project construction, in addition to initiating and developing projects.

Main Projects as of 1.1.2021

1. Ehad Ha’am Towers, Hadera - This project includes 3 upscale towers with 18, 19 and 22 floors, and a wide variety of apartments: 3, 4 and 5 rooms, garden apartments, mini-penthouses and special penthouses. Every apartment benefit from an especially large balcony of 18-24 sq. m., a subterranean parking space and the commercial center which is being built as part of the complex.

2. Mall Street View Marina, Ashkelon - At the best location a project is being developed that will change the city’s entertainment culture. A complex that combines an entertainment and shopping center with luxury seaside vacation apartments. The project would include two vacation residences to be built above the shopping center, with direct access to the stores, the cafes, the beach and the marina. The shopping center, which is located on Ashqelon’s attractive marina, would be open for the general public and would attract Ashqelon’s residents and visitors.

3. Afridar Shopping Center, Azur - A new business center is built in Azur’s western entrance. A complex which combines shopping, commerce and offices, with a modern and impressive architectural design. The complex includes a 14-story office building and a commercial center with 3 floors. The complex offers local residents with a mix of stores and businesses that is unique for this area.

4. Afridar, Wine City, Ashkelon - The largest housing project in the Wine City neighborhood that is being built in Ashkelon. Construction of 836 housing units in 4 complexes, 586 units of which are of special price for residents (“Mehir La Mishtaken”), and 250 units intended for the free market. 20 residence buildings of 7-10 stories are meticulously designed, and offer a variety of 3,4,5 room apartments, garden apartments with very large gardens, and spectacular penthouses.

5. HaBustan (The Orchard), Ashkelon – 71 residence units in a boutique complex, of which 50 units are of special price for residents (“Mehir La Mishtaken”), and 21 units are intended for the free market.

6. Afridar Mansion, Ashkelon – A unique assisted living project. One of its kind both regarding design as well as its breathtaking location, at the western part of the city. Overlooks the sea while located in a residential neighborhood, near commerce and public services areas. 194 private residence units in four buildings that are located around a central round building which will serve as a service and sports activities center, a swimming pool and activities for the complex’s residence community, a restaurant, a hall, and a synagogue.

The Group’s Companies

Albar - focuses on a variety of activities in the automotive industry: operational leasing and fleet management for businesses and companies, private leasing, vehicle sales, trade in, car financing and car rental. Albar is one of the leading companies in its field.

Hachshara Insurance - One of Israel’s oldest insurance companies, Hachshara has been operating since 1972. The company works in two main areas: elementary insurance and life and long-term savings insurance. Elezra Group acquired the company in 2006. Following the purchase, the company underwent a stage of renewed internal restructuring: a business and strategic vision was formulated, Advanced indices of control and quality assurance were introduced, the geographical spread was expanded, the business mix was varied, and more. Today, training provides a wide and diverse spectrum of insurance solutions. Afridar holds 34.67% of the shares of Hachshara Insurance.