This morning (April 11, 2018), Rani Zim Shopping Centers’ management opened the trading on the Tel-Aviv Stock Exchange (TASE) to mark the company’s listing.
The company is engaged in promoting, developing, constructing and managing commercial projects in Israel, primarily shopping centers located in the periphery – Beit Shean, Arad, Maalot and Netivot. The company has investment properties and properties under construction. The company’s market value stands at NIS 246 million and it joins the real estate sector that comprises 97 shares of companies in the sector with an overall value of NIS 114 billion, constituting 17% of the total value of TASE’s equities market.
Rani Zim, the controlling shareholder of the Zim Centers Group: “this festive occasion fills me with excitement, even though I’m already familiar with TASE from my former engagement with “Kimat Hinam” company, which – I’m pleased to say – was sold at a substantial profit and yielded a very satisfactory return for its loyal investors. I am convinced that TASE also constitutes a significant component in growing and improving the value of the Zim Shopping Centers, and that such value will be realized for our investors in the coming years. Today, I am standing at TASE as a representative of businesses in the periphery and it is our intention to continue developing these regions and to provide their citizens with centers that will enhance their shopping experience. In addition, we view the development of shopping centers in the Arab sector as having considerable business potential and are proud to be the flagbearers in developing and upscaling the retail world for this sector. Next week we will celebrate 70 years of independence for Israel; it is a fitting occasion to say that we at Zim Centers view what we are doing as, in some way, a realization of a vision: assisting the state of Israel in developing economic activity in the peripheral regions – the Arab sector alongside the Jewish sector – symbolizes the ingathering of the exiles and the unity of the nation”.
Photo credit: Guy Assayag for no financial consideration.