Azrieli buys land for Amazon data center

Danna Azrieli Photo: Eyal Yitzhar

The 6.5 acre site near Netanya is for one of three data centers in Israel that Azrieli will build and lease to Amazon.

Israeli income producing real estate company Azrieli Group Ltd. (TASE: AZRG) has purchased land on the Tnuvot industrial zone east of Kfar Yona, near Netanya, sources inform "Globes." Azrieli will pay NIS 118.5 million (before VAT) for the land on which it will build a data center (server farm) for online retail giant Amazon. The land covers 6.5 acres and Azrieli will construct a building, which is tens of thousands of square meters in size.

Azrieli declined to comment on the report.

This is the second land purchase deal for Azrieli in the data center sector after purchasing a 7.5 acre site in Shoham near Ben Gurion airport last month. Sources have also informed "Globes," that Azrieli plans buying a third lot for a data center at the Har Tuv Industrial Zone near Beit Shemesh.

Azrieli, led by chairman Danna Azrieli, will reportedly lease out the data centers on the lots in Tnuvot, Shoham and Har Tuv to Amazon.

In July 2019, Azrieli announced that it was buying a 20% stake for $135 million in North America data centers company Compass Holdco.

Published by Globes, Israel business news - - on November 8, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Danna Azrieli Photo: Eyal Yitzhar
Danna Azrieli Photo: Eyal Yitzhar
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