Property & Building Corp.

Management, acquisition, rental, initiation, planning, marketing and construction of income-generating properties in Israel and abroad. Development, planning, marketing and construction of high-quality residential neighborhoods in Israel


Founding Year 1961
Address Electra Building, 98 Yigal Alon St., Tel Aviv 6789141 - View Map
Phone 972-3-5672777
Fax 972-3-5672776
Company Website


Eduardo Elsztain, Chairman of the Board and Acting Chief Executive Officer, Property & Building Corp.

Eduardo Elsztain

Chairman of the Board and Acting Chief Executive Officer

Alejandro Elsztain, Vice Chairman of the Board Of Property & Bulding Group Board Chair of Gav-Yam Bayside Land Corporation Ltd, Property & Building Corp.

Alejandro Elsztain

Vice Chairman of the Board Of Property & Bulding Group Board Chair of Gav-Yam Bayside Land Corporation Ltd


Property & Building Corp. (PBC), of the IDB Group, is one of Israel's largest and leading real estate companies. PBC was established in 1961 and is active in income yielding real-estate and residential properties in Israel and abroad. PBC has income-generating properties with a total area of 1,235,000 square meters in Israel, as well as income-generating properties abroad, the most noteworthy of which is the HSBC Tower on New-York's Fifth Avenue, with a built up area of 80,000 square meters Additionally, PBC together with IDB, holds the Tivoli project in Las Vegas with an area of 62,000 square meters. Furthermore, PBC plans markets and constructs high-quality residential neighborhoods and promotes large-scale urban renewal projects.

Traded on the Stock Exchange
PBC shares have been listed for trading on Tel Aviv Stock Exchange since 1963. The shares of two of its subsidiaries, Gav-Yam Bayside Land Corporation Ltd. and Mehadrin Ltd., are also traded. Bonds that were issued by one of its wholly owned subsidiaries, Ispro, are also traded on TASE.

Long-Term Financial Stability
PBC is financially stable, which is best expressed by equity of NIS 4.0 billion, of which NIS 2.0 is attributed to its shareholders, liquid assets of NIS 3.2 billion, investment property of NIS 12.1 billion, and an annual rental income of NIS 909 million (all data as of 31.12.2018).
PBC’s liquid assets and the ongoing cash flows it generates enable it to continue and grow in Israel and globally in accordance with its long-term growth strategy, while still maintaining financial stability.

Yielding Assets in Israel – Stability Over Time
PBC holds 1,235,000 square meters of income-generating land in Israel with stable occupancy rates of 97%.
The operations include: High-tech and industrial parks, office buildings, commercial centers, and industry, logistics and storage structures, including Matam Park, Kiryat Ono Mall, Ispro Center in Modi’in, Gav-Yam Center in Herzliya, the Apple Complex, the ToHa Tower in Tel Aviv, Ispro Planet – a leisure, cinema and shopping complex in Be’er Sheva, and others. In addition, PBC is now marketing and building projects with a total area of 154,000 square meters. These projects will serve as a future growth accelerator and increase the rental income. The projects under construction include another building at Matam Park in Haifa, and a fourth building in the Be’er Sheva high-tech park. PBC has other land reserves with building rights for a total area of 643,000 square meters in high demand areas, for future construction in accordance with demand.

Construction of Quality Neighborhoods in Israel
PBC specializes in the initiation, planning, development, and construction of high-quality residential neighborhoods in high-demands areas.
The neighborhoods are built uniquely as a holistic “residential park” that includes various components of a fully ecological development and complementary community services such as large public parks, kindergartens, walking trails, sidewalks and parking lots.
The projects include The Shaul Park in Kfar Saba, Merom Nave in Petah Tikva, Rehovot Sheli in Rehovot, Merom Neva in Holon, the upscale Neve Nof Tower in Bat Yam, Karkur, Neve Avivim in Netanya, Open Valley in Be’er Sheva and many others. As of the end of 2018, PBC is marketing and building 730 housing units, of which about 540 have already been sold. In 2018, PBC sold 220 housing units, and income from the residential segment totaled NIS 400 million.
In addition, PBC promotes two large and unique projects in the area of urban renewal (evacuation – construction): Dafna Arlozorov in Tel Aviv (1,230 units, of which 402 are for current tenants) and Nachlat Yehuda in Rishon Le’Zion (800 units, of which 214 are for current tenants).

International Operations
PBC also operates abroad, and mainly in the U.S.

The main projects:
HSBC Tower – located on Fifth Avenue, in the heart of Manhattan, New-York City, with an area of 80,000 square meters – 100% leased to high-quality tenants such as HSBC Bank, Baker McKenzie, Man Group, etc., for periods of 10 years and upward. With the extension of the HSBC lease period or another five years until 2025, rental income per year will be $72 million.
Tivoli – IDBG (a joint venture of PBC – 50%, and IDB) has offices and a retail center in Las-Vegas, with an area of 62,000 square meters, half of which are offices and the rest is a lifestyle and leisure complex (73% populated). Among its tenants: banks, law firms, clinics, etc. In its commercial area RH, a leading American design brand, is a crucial tenant along-side restaurants, fashion stores, etc.
PBC also holds 45% of Mehadrin Ltd., Israel’s largest exporter of citrus fruits. In addition, Mehadrin has a variety of agricultural operations, including fruit and vegetable cultivation, and packing at controlled atmosphere, storage, and marketing services. Mehadrin has leased lands of 10,000 dunams.

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