DUN'S 100 - 2016

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Construction & Real Estate
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21 Real Estate Development
RANK
Kardan Real Estate Enterprise and Development Ltd.
Kardan Real Estate Ltd., managed by Mi-
chael Zissman, is one of the leading com-
panies in the Israeli real estate industry,
with proven professional skills and numerous
achievements in desirable areas nationwide. Kar-
dan has participated in the construction of more
than 2,500 housing units, and is currently plan-
ning and marketing 1,850 units at various stages
of completion. The company was established in
1988 and is part of the Kardan Israel Group, which
operates in the automotive, telecom, hi-tech, and
real estate industries, among others. Kardan Real
Estate focuses on developing and constructing res-
idences throughout Israel, and is active in income-
producing real estate, managing and maintaining
properties, while also carrying out contracting work
via the fully-owned “El Har” company. Kardan Real
Estate provides customers with comprehensive
solutions, from the development, engineering de-
sign and construction stages, to the delivery of
the apartments and professional services upon
occupancy. This efficient one-stop-shop solution
guarantees customers’ peace of mind and long-
term confidence in construction quality. Kardan’s
experienced, service-oriented management team
ensuresmanagerial involvement in every construc-
tion stage, providing customers with personal,
responsible, readily-available responses to all
issues.
Long-Term Strategic Planning
In recent years, Kardan’s scope of projects has
increased with operations in more in-demand
regions, including Nahariya, Kiryat Motzkin, and
Tirat HaCarmel. This new strategy involved separat-
ing the activities of Kardan Real Estate and El Har
(specializing in construction for residential and
income-producing real estate). Kardan now hires
contractors that best suit each project. In order
to diversify its activities and reduce dependency
on any one market, Kardan leveraged its years of
real estate, construction and property manage-
ment experience to begin operating in residential
neighborhoods, within the USA.
Financial Stability & Strength
Kardan Real Estate is a public company that has
been traded on the Tel Aviv Stock Exchange since
2010.
Main financial data as of 31/12/2015:
Total assets: NIS1,075million, net worth: NIS435
million, net worth as a percentage of assets (solo):
43%. Over the years, Kardan has maintained con-
servative, stable financial management, based on
prudent decision-making. In October 2014, the
company made several significant changes, in-
cluding selling 50% of Kardan House to Migdal
Insurance and issuing debentures. These changes
improved Kardan’s financial strength and liquidity,
enabling an expansion of activities.
InSeptember 2014, Kardan issued a total dividend
of NIS 58 million to its shareholders. In March
2016, the board adopted a dividend distribution
policy for the next three years: NIS 10-20 million
per year from each year’s net profit. Kardan then
issued a total dividend of NIS 19 million in March
2016.
Urban Renewal
Urban renewal is the major challenge ahead for
the Israeli residential sector. Utilizing its extensive
experience, capabilities, and financial strength,
Kardan intends to become a leading player in this
field, and is currently identifying, planning, and
constructing urban renewal projects in Ramat Gan,
Givatayim, Tel Aviv, Herzliya and Holon.
Kardan House
A 20-floor office building within a 23,000 sq.m
built-up area, in cooperation with Migdal Insur-
ance. The building is strategically located at 154
MenachemBegin Rd., Tel Aviv, near main highways
and the under-construction light rail line. Its unique
architecture includes floors of various sizes, in-
cluding balconies and rooms offering 3 exposures
and breathtaking panoramic views. Kardan House
is part of the planned northern Main Business
Center, which will include office and residential
towers. This will be the most prestigious business
zone in Tel Aviv, with commercial areas, parks and
parking lots, alongside recreational and cultural
institutions.
Selected Projects
Kardan Be’er-Ya’acov - 405 units. The project is
located in a high-demand central area near major
highways. It includes 3-4 bedroom apartments
and penthouses as well as public buildings, public
parks and educational institutions.
Rehovot Sheli - 336 units. A residential neighbor-
hood located near the center of Rehovot and the
entrance to the city. The project includes 6 residen-
tial towers surrounding a green, well-maintained
community park.
Nofei Hashemesh - 380 residential units in Beit
Shemesh, including 2-4 bedroomapartments and
garden apartments. Kardan is also preparing to
market detached houses.
Kardan Towers - 140 residential units in Hadar
Ganim, Petah Tikva, intended primarily for the Na-
tional Religious community.
Beit B’Gan - Project to build 57 units in Ganei Tikva,
in the desirable OnoValley, enjoying access tomain
transport routes, public parks, and educational
institutions. The project is in the detailed planning
approval stage.
Kardan Agripas - 73 residential units and commer-
cial areas in Jerusalem. After obtaining the permit,
this boutique project will be constructed at the
vibrant heart of Jerusalem, near Jaffa St. and the
light rail.
Carmel by the Sea (Phase A) - 3 buildings with 82
units in the western part of the Galei Carmel neigh-
borhood, Tirat HaCarmel, facing the beach. Con-
structed in cooperation with Agadim Engineering.
Kardan Kiryat Motzkin - 82 residential units (98
units following improvement allowance). Kardan
won the tender for this project in February 2015.
The project is located in the prestigiousMishkenot-
Omanim (Kordoni) neighborhood in the west of
Kiryat Motzkin, by the beach.
Kardan in Nahariya - Kardanwon the tender for this
project in March 2015. It comprises 112 units in
Nahariya’s new northeastern neighborhood.
Carmel by the Sea (Phase B) – In early 2016, Kar-
dan acquired privately-owned land for a 72-unit
project in cooperation with Agadim Engineering.
The project will include 2 buildings in the western
part of the Galei Carmel neighborhood, facing the
beach.
154 Menahem Beguin Rd., Tel Aviv
Tel: 972-3-6891240
Fax: 972-3-6911661
Esta b l i s h e d
1988
L i n e o f B u s i n ess
Development and Real
Estate
Michael (Mickey)
Zissman
CEO *
Roy Kanfi
Finance Manager
Avraham Shemesh
Marketing Director
Eran Amram
CFO
Moti Carmi
Chief Engineer
Danny Mor
VP Business Development
* See Top Executives Profiles - Page 582