Africa Israel Investments Ltd. — Cyborg Score 3/10
Challenged
Real Estate Development
Strategic Profile
Africa Israel Investments primarily operates in real estate development and its synergetic areas, in several main geographic regions, including Eastern and Central Europe, Russia (the Commonwealth of Independent States (CIS)) and Israel. The holding company has diversified operations spanning residential, commercial, and office projects, alongside construction, infrastructure, and energy interests. The company was delisted from the TASE in January 2020 after nearly half a century as a publicly traded company.
Cyborg Score Rationale
The company faced significant financial strain during the global financial crisis beginning in 2008, exacerbated by its heavy leverage in real estate and exposure to volatile markets in Russia and the United States, with total debt reaching approximately 21 billion shekels by mid-2009, leading to defaults on multiple bond series and urgent negotiations with bondholders and banks starting in August 2009. Delisting in January 2020 reflects continued structural challenges.
Top Insights
AFI Europe owns residential, office and shopping mall projects across the Czech Republic, Serbia, Bulgaria, Romania, Poland, Hungary, Germany and Latvia, including the Palace Flora mall in Prague and the AFI Palace Cotroceni in Bucharest.
Africa Israel Residences operates in Israel under the Savionim brand name, developing entire neighborhoods including shopping centers, schools, green areas, cultural and sports facilities.
Danya Cebus is the construction and infrastructures arm of Africa Israel, listed on the TASE, involved in major infrastructure projects in Israel, Russia, Romania and North America.
Africa Israel owns 37.5% of the company operating the Cross-Israel Highway (Highway 6), Israel's first toll road, with other BOT and PFI activities including Highway 431 and the Tel Aviv Light Rail.
Named Competitors
Residences and Retail Development — Israeli real estate developer with retail and residential portfolio
Nahum Shmueli Enterprises — Israeli real estate developer in residential and commercial segments
Idan Real Estate — Israeli residential and commercial real estate developer
Electra Consumer Products — Israeli real estate and retail developer
Recent Developments
(January 2025) Acquisition of GetResidency Ltd., a real estate brokerage firm previously headquartered in Zurich
(January 2020) Delisted from the TASE after 47 years as a publicly traded company
(November 2010) Publicly pledged to halt involvement in West Bank settlement construction
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