search
Front > Real Estate

Motti Zisser takes over helm at Elbit Imaging

31 Jul, 2012 10:13
שלח תגובה במיילNadav Neuman

"The time has come to get back to entrepreneurial and value-creating activity."

Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) is reorganizing its management structure in order to implement its business plan to focus on seeking new opportunities for the initiation, development, and redevelopment of properties, and to establish and expand business cooperation and joint ventures in the US, Europe, and India. The company announced today that president Mordechay (Motti) Zisser has also assumed the post of CEO and will lead its business activity.

Elbit Imaging will post its co-CEOs Ran Shtarkman and David Machluf in the relevant markets where the company wishes to focus in the coming years and which constitute its core business. Starkman will serve as CEO of subsidiary Plaza Centers NV (LSE:PLAZWSE:WLZ), managing the company's operations in Eastern Europe and India. Machluf will serve as CEO of subsidiary Elbit Plaza USA, where he will manage real estate activities in the US, as well as international financing activities and mergers and acquisitions.

Elbit Imaging added that CFO Doron Moshe will assume responsibility for the company’s investor relations, in cooperation with chairman Shimon Yitzhaki, and that VP and general counsel Zvi Maayan will assume responsibility also for corporate governance.

Since May 2011, Elbit Imaging and affiliated companies have bought back bonds with a nominal value of NIS 165 million for a total of NIS 112 million. The current yield on the company's bonds reaches 44%.

Zisser said, "Following a long period during which we have focused mainly on stabilizing the company in markets which have experienced high volatility, the time has come to get back to the entrepreneurial and value-creating activity by which Elbit Imaging has been characterized for many years. Our highly experienced senior managerial team will now be close to the relevant fields of activity and geographical markets around the world, to enable quick and efficient identification and exploitation of opportunities and establishing and expanding business cooperation and joint-ventures in these challenging times."

Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Eilat's old airport Photo: Shutterstock Building set to begin on former Eilat airport land

2,469 housing units will be built as well as 2,776 hotel rooms, 88,000 square meters of office space and 95,000 square meters of commercial space.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Givatayim, Ra'anana, Modiin-Maccabim-Reut, Gedera, Kiryat Shemona and Ashkelon.

Airbnb credit: Reuters Knesset ignores Airbnb tax evasion loophole

The Israel Hotels Association has slammed the government's indifference to tax evasion by Airbnb landlords, which it insists promotes unfair competition.

Sde Dov credit: Guy Yehieli Tenders close for 2,744 more homes in Sde Dov

Four tenders closed last month for the north Tel Aviv district saw a decrease of about 40% in the prices of land, and there is great interest in the prices these latest tenders will fetch.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Netanya, Rishon Lezion, Tirat Carmel and Sderot.

Supervisor of Banks Daniel Hahiashvili credit: Eyal Izhar, Shlomi Yosef processing: Tali Bogdanovsky BoI moves to restrict developers' financing offers

Supervisor of Banks Daniel Hahiashvili sees growing risk in bank loans subsidizing new home purchases.

Check Point offices credit: Shutterstock Check Point, Israel Canada buying NIS 800m Tel Aviv site

The two companies are expected to win a tender by the Tel Aviv Municipality for land zoned for residential and office construction in the Bitsaron neighborhood.

Inflation credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

Real estate agencies illustration: Tali Bogdanovsky credit: Eyal Izhar Too many agents and too few housing deals in Tel Aviv

There were 2,270 second-hand homes sold in Tel Aviv last year, while the city has 2,566 registered realtors, "Globes" finds.

Ramat Hasharon house in Ankor Street credit: Leanna Rose Ramat Hasharon house sells for NIS 12.4m

The 240 square meter, five-room semi-detached house on two floors is on a 430 square meter lot in the Neve Rom neighborhood.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Ramat Gan, Holon, Modi'in Illit, Rehovot, Akko and Ashkelon.

BIG Glilot office tower credit: Dror Marmor 63% of BIG Glilot office tower already leased

The 44-floor office tower above the shopping center is charging lower rents than Tel Aviv but higher than Herzliya.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018