- Business
- Kardan Israel Ltd. engages in real estate development, construction, and related services primarily in Israel and the United States through its subsidiaries, including Kardan Real Estate (Kardan Nadlan). The company locates, initiates, develops, and sells residential buildings; executes urban renewal projects involving demolition and rebuilding of properties; develops, sells, and rents office buildings, commercial areas, and yielding assets such as parking lots; constructs residential, commercial, public, and logistics buildings via its subsidiary El-Har Construction; and develops logistics real estate complexes including server farms, cold storage, commerce, and office facilities. It operates three main segments: Real Estate, Rental and Leasing of Vehicles, and Sale of Vehicles, with additional investments in communication and technology sectors; in the vehicles segment, it indirectly holds 41% of UMI, the importer of General Motors brands such as Chevrolet, Buick, Cadillac, and Isuzu light trucks. Founded in 1982 and headquartered at 154 Derech Menachem Begin in Tel Aviv, Israel, Kardan Israel targets residential end-users, commercial tenants, and logistics operators across the country, with projects like urban renewal in Jerusalem and new developments in West Netanya. Recent developments include final approval for a 345-unit residential project with commercial space in West Netanya; sale of its stake in Mekdan Management and Maintenance to a private investor in 2025, establishing a strategic partnership; Q3 2025 earnings showing revenue of ILS 120.6 million, EPS of ILS 0.19, and net profit margin rising to 9.1% from 3.1% year-over-year, driven by residential and logistics growth; and ongoing advancements in mixed-use and urban renewal initiatives amid a focus on operational resilience.