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 1951 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.
Currently, Afridar focuses on residential real estate activity nationwide, and locates residential projects in renewing urban areas with growth potential and an existing urban infrastructure. Afridar is actually among the first companies that executed urban renewal projects and strives to lead the sector in this field in years to come. In addition, the company constructs commercial centers and office complexes, and is currently entering the assisted living sector, constructing a project located at Ashkelon beach – “Afridar Estate Assisted Living”.

Vision

As one of Israel’s first companies to execute urban renewal projects, our goal is to lead the field in years to come. We will continue to focus on nationwide residential real estate activity and locate residential projects in renewing urban areas with growth potential and an existing urban infrastructure which will serve our clients from the day they enter their apartment. Our financial strength and close cooperation with Israel’s banking system enable us to invest in the real estate field and lead Israel’s urban renewal. We will continue to initiate and execute in varied real estate fields: residential, commerce, offices, assisted living and hotels; our true capital is our employees and therefor we will continue to invest in training employees, as well as in their wellbeing.

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. Afridar holds 100% of Albar’s shares.

• 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 is varied, and more. Today, training provides a wide and diverse spectrum of insurance solutions.

Main Projects for 2025

Afridar Estate, Ashkelon - A unique assisted living project of its kind, from low-rise planning to a breathtaking location overlooking the sea, located in the Barnea G residential neighborhood in northern Ashkelon.
The complex has 194 spacious apartments with balconies and a rooftop terrace in each apartment. All buildings surround the central circular structure that will serve as a service and activity center, such as: sports, a swimming pool, 24/7 medical services, and a variety of classes for the well-being of the residents.

•Kiryat Moshe, Rehovot - A residential project with 126 units.

• Narkisim, Rishon LeZion - A residential project with 72 units, of which 58 units are in the Target Price framework and 14 units are in the free market.

•Yehud 318 - A residential project with 162 units, 130 in the Target Price framework and 32 are in the free market.

• Yehud 315 - A residential project that includes 144 units, 115 within the framework of the target price and 29 free market. The buildings include commercial space of approximately 975 square meters.

• Elad - A residential project that includes 141 units and commercial space, including 141 units and approximately 4,000 square meters of commercial space.

• Be’er Yaakov - A residential project that includes 242 units, of which 121 units are within the framework of the target price and 121 are free market.

• Hatzavim, Rishon Lezion - A residential project that includes 166 units, 133 within the target price and 33 are free market. The project includes a mix of commercial and employment uses and approximately 3,000 square meters of commercial space and approximately 6,600 square meters of employment space.

Future Projects

• 76-78 HaYarden St., Ramat Gan - A Tama 2 project that includes 56 residential units.

• Abba Hillel St., Ramat Gan - An evacuation and construction project that includes 150 residential units.

• Sirkin, Petah Tikva - Residential and commercial project including 253 units and approximately 1,800 square meters of commercial space.