Blue Square Real Estate Ltd.
Yielding Real Estate, Leasing, Development and Betterment of Existing Properties, Locating and Developing Projects
|Line of Business:||Yielding Real Estate, Leasing, Development and Betterment of Existing Properties, Locating and Developing Projects|
|Address:||1 Azrieli Center, the Circular Tower, Tel Aviv 6701101|
Moti Ben Moshe
Blue Square Real Estate Ltd.
Blue Square Real Estate Ltd.
View ProfileZe’ev Stein
Eli Goldstein V.P. Business Development
Shlomit Tayeb Chief Financial Officer
Michal Rattner General Counsel & Corporate Secretary
Yossi Eisenkraft V.P. Engineering
Meidad Kronzon Comptroller
About Blue Square Real Estate Ltd.
PARENT COMPANY: Alon Blue Square Israel Ltd.
Blue Square Real Estate specializes in entrepreneurship, acquisition, development, and management of yielding real estate intended for commerce, business, logistics, and housing. The company was founded in 2005 by Alon Blue Square Israel Ltd., which operates in numerous fields such as energy, retail, real estate and infrastructure. Blue Square Real Estate has been traded at the Tel Aviv Stock Exchange since 2006. The company owns 112 yielding properties, B.O.T Project and about 350 thousand sq.m. of rental space, including, among others, the new TLV Fashion Mall, at the total value of about NIS 4.2 billion, for early 2018. The company’s yielding properties are characterized by a wide, quality distributed throughout the center of Israel, in major cities and in other areas of demand. Since its establishment, the company has been in constant growth regarding the number of its properties, as well as the volume of its leased spaces and income. Blue Square Real Estate is vastly experienced vis-à-vis the development and upgrading of real estate properties.
The company specializes in entrepreneurship, planning and accompanying retail commerce sites, logistics sites and business parks, alongside management, betterment, and asset finance. The company’s accurately chosen projects, professional management, and operational skills generated its excellent reputation over the years. In addition, the company is well known for its financial fortitude, which is based on steady cash flow and low levering.
Major Projects in Recent Years
1. Tel Aviv’s Wholesale Market – Blue Square Real Estate’s flagship project, which began in 2010 as a joint venture (50%) with a third party. The company acquired the building rights for the development of the largest area reserve left at the heart of Tel Aviv, between the streets of Karlibach and Hachashmonaim. The project includes 11 residential buildings, which include 776 apartments, a shopping mall of about 32,000 sq.m, a 14,000 sq.m. park, a preschool, kindergartens and daycares, a 33,000 sq.m. and a sports center.
2. Kiryat HaSharon, Natanya – Blue Square Real Estate has entitled and constructed a venue that includes about 14,000 sq.m. of commercial space, offices, and shops. The company currently owns 50% of the property. The site includes construction rights for 27,500 sq.m., which are intended for offices. The company is currently working on a zoning plan that will enable the building of retirement homes and student dormitories.
3. Hadar Mall, Jerusalem – In December 2013 the company finalized an additional fashion floor as well as two parking levels, as well as a renovation of the existing mall. Leading brands were added to the mall in order to improve the store selection, that attracted more people to the mall that in turn, it became Jerusalem’s second largest mall, at 27,000 sq.m. of commercial space of which 50% of the property is company owned.
4. Comverse Campus, Ra’anana – The company has completed the business tower by the end of 2014, which is designated to serve as Comverse’s central campus. Today, the campus is being leased to startups and various technology companies. The building’s space constitutes 27,000 sq.m., as well as 900 parking spaces. The company currently owns 50% of the property.
The Company is promoting a city building plan that will increase the building rights to a similar extent to the existing tower.
5. Logistics Center, Kibbutz Eyal – The construction of a 28,000 sq.m. logistics center, which serves Mega Retail Company, was completed in June 2014, in Kibbutz Eyal, near Kfar Sava and route 6. The company owns 50% of the center.
6. Givon Parking Lot – A sub terrain public parking lot which is a B.O.T project (with a 23-year concession from the municipality for construction and operation), which is located in the new heart of Tel Aviv, between the Wholesale market venue and the Kirya South area.
The parking site is 31,000 sq.m. and includes 1,000 parking spaces opened to the public in April 2015. The parking lot was built in cooperation (50%) with another company.
7. Point Wells, Seattle, Washington, USA – In 2010 Blue Square Real Estate acquired about 240,000 sq.m. designated for industry near one of the most prestigious suburbs in Seattle in order to change its zoning into mixed-use which includes widespread residential areas, combined with commerce.
The company received the court’s authorization to change the zoning into “urban center”, with a potential for future development of about 3,000 residential units and public areas. The company continues to promote the development process of the site.
8. HaYetzira Towers – In 2017, Blue Square Real Estate acquired land for the construction of two towers, including 30,000 sq.m. of offices and 390 housing units. The Company holds the full rights in the offices and 50% of the residential rights. Construction is expected in 2019.
9. Residential project in Tel Aviv – The company is working to obtain a permit for two residential projects in the streets of Yehuda Hamaccabi and Oded in Tel Aviv. A total of 117 residential units are expected to be built, as well as commercial areas of 2,000 sq.m.
Other Yielding Properties
1. Retail Properties – The company also owns 173,000 sq.m. of commercial sites, including 93 supermarket branches, in a total 145,000 sq.m., leased to diverse tenants and fully occupied. This is the largest supermarkets’ portfolio in Israel, mainly located in the center of Israel, of which 20 stores are located in Tel Aviv.
2. Logistics Centers
Be’er Tuvia Industrial Area Logistics Center – A 24,000 sq.m. logistics center is built on a 74,000 sq.m. ground. The logistics center is leased to Bee Retail Group Ltd.
Kibbutz Einat Logistics Center – 14,000 sq.m. near the route 6 and route 5 interchange. The logistics center is leased to various companies. The company owns 50% of the property.
You may also like