DUN'S 100 - 2016

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Construction & Real Estate
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2016 | DUN’S 100 DUN’S 100 | 2015
DUN’S 100 | 2016 2016 | DUN’S 100
11 Yielding Real Estate
RANK
Blue Square Real Estate Ltd.
B lue Square Real Estate specializes in
entrepreneurship, acquisition, devel-
opment and management of yielding
real estate intended for commerce, business,
logistics and housing. The company was found-
ed in 2005 by Alon Blue Square Israel Ltd. of
Alon Oil Company, which operates in numerous
fields such as energy, retail, real estate and in-
frastructure, both in the Israeli market as well as
the international one. Blue Square Real Estate
has been traded at the Tel Aviv Stock Exchange
since 2006. The company owns 114 yielding
properties, approximately 279 thousand sq.m.
of rental space and a shopping mall of about
32 thousand sq.m in its building stages, at the
total value of about NIS 3.8 billion, for 2016.
The company’s yielding properties are character-
ized with 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 regard-
ing 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 entrepreneur-
ship, planning and accompanying retail com-
merce sites, logistics sites and business parks,
alongside management, betterment and asset
finance. The company’s accurately chosen proj-
ects, 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 com-
pany 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. After the renovation
of the existing mall, it became Jerusalem’s sec-
ond largest mall, at 27,000 sq.m. of commercial
space. Leading brands were added to the mall
in order to improve the store selection, conse-
quently attracting more people to the mall. 50%
of the property is company owned.
4. Comverse Campus, Ra’anana – The company
has completed the business tower in the fourth
by the end of 2014, which is designated to serve
as the hi-tech company Comverse’s central cam-
pus. The building’s space constitutes 27,000
sq.m., as well as 900 parking spaces. The com-
pany currently owns 50% of the property.
5. Logistics Center, Kibbutz Eyal – The construc-
tion 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 park-
ing lot which is a B.O.T project (with a 23 year
concession from the municipality for construc-
tion 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 on
April 2015. The parking lot was built in coopera-
tion (50%) with another company.
7. Point Wells, Seattle, Washington, USA – In
2010 Blue Square Real Estate acquired 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 of future development
of about 3,000 residential units and public
areas. The company continues to promote the
development process of the site.
Other Yielding Properties
1. Retail Properties – The company also owns
173,000 sq.m. of commercial sites, including 98
supermarket branches, in a total 162,000 sq.m.,
about half are leased to Mega Retail chain store,
and the rest to various companies in the food
industry.
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.
Esta b l i s h e d
2005
L i n e o f B u s i n ess
Yielding Real Estate, Leasing, Development
and Betterment of Existing Properties,
Locating and Developing Projects
l e a d i n g e x ecu t i v es
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
BlueSquareRealEstateLtd.
Ze’ev Stein
CEO *
pa r e n t co m pa n y
Alon Blue Square Israel Ltd.
2 Amal St., Afek Industrial Zone,
Rosh Ha’ayin 4809202
Tel: 972-3-9282526
Fax: 972-3-9282402
* See Top Executives Profiles - Page 582