| Azrieli Group Ltd. | |
| Type: | Public |
| Traded As: | TA-35 Index Component |
| Location City: | Tel Aviv |
| Location Country: | Israel |
| Key People: | Eyal Henkin (CEO), Danna Azrieli (chairwoman) |
| Industry: | Real estate, financial services |
Azrieli Group (Hebrew: קבוצת עזריאלי) is an Israeli real estate and holding company named after its founder David Azrieli. The company is engaged mainly in the development and management of shopping malls and office buildings in Israel.
The company is traded in the Tel Aviv Stock Exchange under the symbol AZRG, and is part of the Tel Aviv 35 Index.[1]
Azrieli Group started its activities in 1982, developing the Ayalon Mall in Ramat Gan, which opened in July 1985.
The group opened its second mall, Hanegev Mall in Beer Sheva, in 1989 and a third mall, the Jerusalem Mall in 1993.
Between 1996 and 2007, the group developed the Azrieli Center in Tel Aviv, a complex that includes three office buildings above a shopping mall.
In 2014, it sold paint manufacturer Tambour to the Kusto Group, a corporation registered in Singapore and owned by Kazakhs.[2]
In 2016, the group announced its entry into the eCommerce sector with the acquisition of the eCommerce business and website of Buy2,[3] founded by serial entrepreneur Aviv Refuah. The website was rebranded under the name "Azrieli.com" and is considered one of the leading eCommerce websites in the region.
Its investment in assisted living facilities for the aged made up 7% of its assets as of 2020.[4]
In July 2019, Azrieli acquired 20% of US-based Compass Holdco to compete in the data center real estate business.[5] In 2021, Azrieli acquired Green Mountain, AS for ₪2.8 Billion.[6] [7]
In January 2022, permission was given by the Tel Aviv local planning and building committee to build the Spiral Tower at the Azrieli Center, which will be a 350meter tall, 91-storey building and would become the second-tallest structure in Israel after the Dimona Radar Facility.[8]