Carasso Real Estate

Carasso Real Estate Ltd. (“Carasso”) is a publicly traded company that deals with entrepreneurship, development and construction of residential real estate. Carasso is considered as one of the strongest, expert players in Israel in the field of real estate and as one of the pioneers in the field of urban renewal. The company’s strategy combines focusing on promoting projects on private lands in addition to maintaining a backlog of active and developing yielding assets. The company’s equity is valued at 1.34 billion NIS, has a credit rating of -A from S&P Maalot, and it is included in the Tel Aviv 90 and Tel Aviv 125 indexes.

The Company’s Vision

Carasso invests a lot of resources to create an innovative living experience for its customers that reflects the lifestyle to which they aspire, the values, way of life, aspirations and dreams of each and every one of them. The unique creative process is expressed in the study of future trends, cultural phenomena, changing needs and diverse lifestyles, and it includes touching on the energy revolution, a sense of community, a sustainable living environment, and work-leisure balance.

Responsible, Equitable and Fair Conduct

As a company that sees itself as responsible to the community it operates within, Carasso prioritizes gender equality among its employees and regularly contributes to social and academic programs.
As a publicly traded company, Carasso published this year a third ESG report that details its conduct in the areas of environment, community and corporate governance in direct accordance with the company’s vision and values. For example:
• Advocating for gender equality in employment (57% of the company’s workers are women).
• Promoting diversity and inclusion (about half of the company’s workers are over the age of 45).
• Utilizing environmental resources in the field of green building and alternative energy.
• Planning residential projects that promote healthy lifestyle and encourage interpersonal meetings and supporting community.
• Conducting ourselves fairly and transparently vis-à-vis employees and customers.
• A yearly donation of hundreds of thousands of shekels to education, medicine and the advancement of women.

Social and Environmental Projects

Carasso works to promote social and environmental projects that include urban renewal, social housing, housing for young people, strengthening disadvantaged populations and adaptation to a holistic, ecologic and sustainable worldview.
Here are some examples:
Hagar Carasso Center. Support for the social housing policy research and development program of the Hagar Center at Tel-Aviv University, including assistance in adequate housing for middle- and low-income earners and urban renewal to improve residents’ quality of life.
Carasso Sunn. Numerous new boutique buildings in the old north of Tel-Aviv. (In marketing: 9 David Yellin St., 7-9, 10 and 11 Hadera St.) that offer a living experience in the concept of physical and mental health.
Umami neighborhood in Kiryat Ono. A residential complex planned for the cooking and hospitality enthusiasts that includes a forest gardens and spice gardens and provides a living experience adapted to the differentiated community.
Entrepreneurship in the Field of Residential Real Estate
The company is promoting 86 residential projects with 16,865 housing units, most of which are urban renewal projects – 75. The company’s strategic approach is based on meticulous planning, leveraging the advantages of private land and avoiding competition in tenders, with a focus on the main cities in Israel.
In the last decade the Company has completed the establishment of neighborhoods and buildings in Gush-Dan and in Jerusalem: Gan HaMoshavot, Petah Tikva (320 housing units). The towers in Yeshurun, Hod-HaSharon (267 housing units); Bezalel complex, Tel-Aviv (153 housing units); Psagot Jerusalem, Romema neighborhood (276 Housing units and a commercial center); A-C towers in Umami neighborhood (372 housing units); Andromeda Reborn, Jaffa (55 housing units); 32 HaKnesset, Giv’atayim (56 housing units); Sderot HaYovel phase A (130 housing units); Me-Cro project 144-146 Ibn Gvirol, Tel-Aviv (57 housing units and commercial areas); 24/26 Yavnieli, Givatatyim (51 housing units).Projects in building process: Umami neighborhood (C-F towers); Neot Ariel Sharon in Kiryat Ono (400 housing units); Sderot HaYovel, phase B+C, Jerusalem (378 housing units);) The Young Yovel neighborhood, Jerusalem (226 housing units); Flora Complex, Tel Aviv (93 housing units); Carasso 20 Simcha Holtzberg, Bat Yam (73 housing units); Carasso 55-57 Weizman, Holon (110 housing units); Carasso Botanic 28-29 Columbia, Jerusalem (353 housing units and commerce areas); Carasso Nia – Beit Lehem Rd., Jerusalem (309 housing units and commercial areas).

Urban Renewal

Carasso views the field of urban renewal as a central channel for the development of residential real estate in Israel, and was among the first companies that entered the area already in 2010. The Company operates both in the Pinui-Binui field to renew complexes that include building of hundreds of housing units, and in the field of demolition and building by virtue of TAMA 38/2.
Chosen Pinui-Binui complexes: Sderot HaYovel, Jerusalem (508 housing units); Carasso Botanic – 28-29 Columbia, Jerusalem (353 housing units and commercial areas); Carasso Nia – Beit Lehem Road, Jerusalem (309 housing units and commercial areas); Young Yovel – Stern, Kiryat HaYovel, Jerusalem (226 housing units); Opatoshu, Tel-Aviv (335 housing units); HaLavi complex, Giv’atayim (220 housing units); 5-23 Rosh Pina, Holon (838 housing units).
Chosen TAMA 38/2 projects: Micro 144-146 Ibn-Gvirol, Tel-Aviv (57 housing units and commercial areas); 24-26 Yavnieli, Giv’atayim (51 housing units); 4-10 HaMa’avak Giv’atayim (82 housing units);
Carasso 20 Simcha Holzberg, Bat-Yam (73 housing units); Carasso 55-57 Weizmann, Holon (110 housing units), Carasso 10-14 Shenkar, Holon (168 housing units).
SUNN Carasso – 7,9,10,11 Hadera, Tel-Aviv (94 housing units); 9 David Yellin, Tel-Aviv (29 Units).

Income Producing Properties

In the frame of its business activity, Carasso is holding income-producing properties that include about 120,000 sq.m. of active properties, in addition to entrepreneurship and development of about 252,000 sq.m. of yielding properties.
The backlog of active income-producing properties includes neighborhood commercial centers, and also office complexes, employment and logistics areas in. Among the yielding properties the company is working nowadays on their development, the following projects are especially prominent:
Merchav Carasso Rival - Tel-Aviv. Urban space spreading of 13 dunams, multi-use, with 158,000 sq.m. of offices, employment and commerce, residence and affordable housing and a green area for the public.
VICA in Kiryat Arye, Petah Tikva. A park of business and employment office and commercial real-estate, that is under construction, in partnership with “Vitania”. The 25 dunams park Includes 120,000 sq.m. of office, employment, and commercial spaces, is situated at the eastern end of Derech Em HaMoshavot, close to the train station and the red line of the light rail system. In the complex 5 building are being built of 10 floors each over a unique commercial ground floor, next to a tower of 33 floors. Above, 5 levels of underground parking with about 2,500 parking spaces.
Merkaz HaBaron – A shopping center in construction on road 67, including offices and commerce spreading over 20,000 square meters that will serve the residents of Fureidis, Zikhron Ya’akov and the surroundings. Entrepreneurs Partners: Synergy Group and Yuvalim.