- Business
- Rani Zim Shopping Centers Ltd engages in the development, construction, acquisition, management, leasing and sale of commercial real estate projects primarily in Israel. The company operates and manages open-air shopping centers and malls under brands including Seven and Zim Urban, located in peripheral and growing communities such as Maalot, Beit Shean, Yarka, Nof HaGalil, Umm al-Fahm, Tireh, Taybeh, Kfar Saba, Ganei Tikva, Netivot, Dead Sea, Rosh HaAyin, Kiryat Ono and Arad; it also develops residential housing units for sale or operation. Incorporated in 2009 and headquartered at 14 Ahad Ha'am Street in Tel Aviv-Yafo, Israel, the company targets retail tenants, families and local communities in the real estate development and operations sector, with sales segmented into commercial centers, residential construction and other activities generating approximately ILS 187 million in Israel for 2024. Recent developments include the completion of the NIS 152 million acquisition of Dead Sea Ltd and its shopping mall in July 2023 to boost occupancy and NOI; an agreement in December 2024 for Hagag Group Real Estate Entrepreneurship Ltd to acquire a 10.45% stake for ILS 39.05 million, subject to approvals by January or February 2025, increasing Hagag's ownership to 30.21%; and new tenant openings such as Adidas branches in Seven Tamra and Seven Taybeh complexes in 2025 covering over 600 square meters.