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Company's Profile

Established: 1950
Line of Business: Real Estate
Address: 3 Har Sinai St., Tel Aviv 6581603
Phone: 972-3-7130200
Fax: 972-3-5606864
Email: miri@rassco.co.il
Website: http://www.rassco.co.il
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Company Executives

Leading Executives

    Shlomo Eisenberg Chairman of the Board
    Adi Dana Chief Executive Officer
    Eli Kamar CEO GATI
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About Isras Investment Company Ltd.

Isras Group is one of Israel’s largest and longstanding real estate groups and specializes in the development, construction, and management of yielding properties and residential construction. The Group has some 110 employees, decades of experience, hundreds of successful projects, and a diverse portfolio of properties located throughout Israel. Isras is a public company, with its shares traded on the Tel Aviv Stock Exchange as a part of the “TA-125” Index. The Group’s 2019 consolidated balance sheet totaled NIS 4.7 billion; shareholders’ equity totaled NIS 3.4 billion, and net income totaled NIS 562 million.

The Group, which was founded some 70 years ago, is, among other facts, one of Israel’s largest real estate groups, and it includes the following companies:
• Rassco – Rural and suburban settlement company (100% owned).
• GATI – Jerusalem Technology Park Ltd. (74% owned).
• Rassco Residential Ltd. (formerly “Ocif” Investment & Development Co. Ltd.) (100%)
• Ogen Yielding Real Estate Investment Ltd. (100%).

The Group has expertise and experience in the development, construction, and management of rental yielding properties (through Isras, Ogen, and GATI) and residential construction (through Rassco and Rassco Residential), and it owns extensive lands. As well, the Group has extensive holdings of real estate and building rights throughout the country. These companies own over than 600,000 square meters of rental properties. The properties include technological parks at Jerusalem’s Malha and Har Hot’Zvim (through the GATI subsidiary); office and commercial parks in Ramat Ha’hayil (Tel-Aviv), Holon, Rehovot, Netanya, Petah Tikva, Ramat Gan and more. The companies also own industrial buildings, parking lots, and small workshops throughout Israel, and an assisted-living complex in Kfar Shmaryahu (Via Moadon Neve Aviv - 100% owned). As well, the companies of Isras Group hold about 300,000 square meters of real estate and building, designated for the future construction of rental properties.

Isras, Ogen & GATI – Income Yielding Properties

These companies own more than 650,000 sq.m. of yielding properties. These properties include technological parks at Jerusalem’s Malha and Har Hotzvim (through the GATI subsidiary); office and commercial parks in Ramat Ha’hayil, Rehovot, Netanya, Petah Tikva, Holon, Ramat Gan, Rosh HaAyin, Afula, Neve Ilan, Jerusalem and more. The companies also own workshops and industrial buildings, and parking lots throughout Israel.

The yielding properties are valued at some NIS 6 billion. The company has land reserves and building rights for the construction of yielding properties with a total area of about 500,000 sq.m.

Jerusalem Technological Park (JTP)

Tenants include high-tech companies, government ministries, banks, institutes of higher learning, and foreign media networks.

Amount of construction. Constructed Area: About 61,000-sq.m. Occupancy: About 99%. Fair Value: About 869 million. Balance of future rights: About 32,000-sq.m.

Rassco – Company for Agricultural and Urban Settlement Ltd. and Rassco Residential Construction (formerly Ocif)

These companies focus on the development and construction of hundreds of residential units in the in-demand areas of Jerusalem, Haifa, Kiryat Tivon, and Nahariya. In 2017, construction began on some 150 additional residential units. The companies hold land reserves currently in various planning stages for some 600 additional residential units.

Moreover, the company is involved in several urban renewal projects, Pinui-Binui projects, currently at various stages of finalization for some 1,350 residential units.

“David’s Crown” – The Diamond in the Crown

“David’s Crown” is one of the most prestigious and attractive projects in Jerusalem. The project was built on the 31-dunam YMCA lot. Building rights are for some 35,000 square meters for sale and lease, including 140 deluxe apartments. The project also includes offices, shopping areas, and hotels spaces, most of which were marketed successfully.

Projects under Construction

• Olivax Complex, Kiryat Arye/Petach Tikva - the company has building rights for 118,000 sq.m., initially about 62,000 sq.m would be built.

• Open commercial center, Kfar Ganim/Petach Tikva – about 10,000 sq.m. Occupation expected in 2021.

• Har Hotzvim. Jerusalem – expanding the existing complex by some 38,000 sq.m.

• Metro-Mall Park, Rehovot – near the railway station, expanding the existing park by some 38,000 sq.m.

• Tirat HaCArmel – At the 1st stage about 15,000 sq.m. out of 50,000 sq.m. of employment and commerce spaces would be built.

 Other Selected Group Projects

• Ogen Park in Netanya.
• Ogen Park in Ramat Ha’Hayil, Tel Aviv which includes 3 office buildings and a commercial center.
• The Elbit and Elisra company complex in Holon.
• Ogen (Siebel) Park, in Rosh Ha’ayin.
• Ogen Park in Ha’Sivim Street Complex, in Petah Tikva.
• D-Mall Center – a commercial center in the Ramat-Gan Diamond Exchange Complex
• Neve Ilan, Communications Park.
• Gati Har Hotzvim, Jerusalem.

The average occupancy rate in these assets is about 90%.

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