Developing assets and 30 stations should boost annual revenue to NIS 400 million.
After a two-year delay, Israel Railways has established a subsidiary for its real estate, in line with the reform agreement signed on April 2, 2012. The new subsidiary is intended to generate substantial revenue in two previously neglected areas.
The road to developing real estate projects was opened when Israel Railways and the Israel Land Authority signed a development agreement last week. Development of properties and 30 train stations should gradually boost annual revenue from NIS 100 million to NIS 400 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 27, 2014
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