A rare meeting between academic research, technological innovation and industry
“Gav-Yam signed two additional lease agreements in the Gav-Yam Ra’anana project. The first, with Texas Instruments, for the lease of an area of approximately 4,000 square meters, for a period of 10 years, in exchange for a total lease payment of approximately NIS 55 million (for the entire lease period, Gav-Yam’s share – 69.5%). The second agreement was signed with the high-tech company NCR, for the lease of an area of approximately 3,600 square meters, for a period of 5 years, in exchange for a total lease payment of approximately NIS 30 million (for the entire lease period, Gav-Yam’s share – 69.5%).”
Avi Yakubovitz, CEO of Gav-Yam
Gav-Yam in two significant transactions with international technology companies Texas Instruments and NCR in Ra’anana. Avi Yakubovitz, CEO of Gav-Yam: “Gav-Yam signed two additional lease agreements in the Gav-Yam Ra’anana project. The first, with Texas Instruments, for the lease of an area of approximately 4,000 square meters, for a period of 10 years, in exchange for a total rental fee of approximately 55 million NIS (for the entire lease period, Gv-Yam share – 69.5%). The second agreement was signed with the high-tech company NCR, for the lease of an area of approximately 3,600 square meters, for a period of 5 years, in exchange for a total rental fee of approximately NIS 30 million (for the entire lease period, Gv-Yam share – 69.5%)”.
The project, which includes two ten-story office buildings, above a double commercial floor, is located in the heart of the sought-after Kiryat Etgarim industrial zone in Ra’anana. The project is a combination deal with Shufersal Real Estate (Gv-Yam share 69.5%), and is being built on a total surface area of approximately 40 thousand square meters, of which approximately 35 thousand square meters are offices and approximately 5 thousand square meters are commercial. The project is expected to be completed in the third quarter of 2023.
Gav-Yam continues to focus on intensive development activity and presents a huge backlog of projects, broadly spread, both geographically and sectorally, that focuses on the main demand centers and includes 14 projects, with a total area of approximately 515 thousand square meters, with an investment of approximately 5.2 billion shekels, generating additional representative annual revenues of approximately 450 million shekels (the company’s share).
Approximately 54% of the above-ground areas in the projects in progress were marketed for an average rental period of approximately 10.3 years.
During 2023, the company will complete and occupy four projects, with a total area of approximately 180 thousand square meters (145 thousand square meters the company’s share), which will generate representative income of approximately 80 million shekels (the company’s share), and include the Matam Mizrah #2 and Rav Baricha #1 towers, which have been completed and marketed in full, the fourth storey in Gav-Yam Park Haifa Bay, which was also marketed in full, and the Gav-Yam Raanana project.
The rental transactions on behalf of Gav-Yam, which were signed as mentioned, were led by Gav-Yam’s VP of Marketing and Business Development, Mr. Yariv Bar-Deah, and were accompanied by the law firms of Wexler Bergman and Goldfarb Gross.
A TASE study found that 63 publicly traded companies consistently distributed dividends over at least ten years. Their shares in the last decade yielded average returns of 350% compared to 56% generated on the TA-125 index. 75% of the companies that maintained consistency recorded triple-digit returns.
The company, whose products are sold mainly to the defense industry, leased the new office spaces in Jerusalem at an annual cost of around ILS 7 million; the Givat Ram Campus project is a joint project of Gav-Yam, The Hebrew University and the Jerusalem Development Authority; tenants are expected to occupy the project’s first stage in late 2024
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