Actual property firm Enav has signed a financing settlement with insurance coverage firm Phoenix Monetary (TASE: PHOE). Underneath the phrases of the settlement, Phoenix will prolong credit score of as much as NIS 320 million, which is able to function fairness capital for 4 Enav tasks.
The preliminary funding will deal with 4 tasks: 240 housing models in Ramat Gan; 244 housing models in Kfar Saba; 255 housing models in Kiryat Ono; and 288 housing models in Tel Aviv.
Enav is selling over 35 city renewal tasks all through the nation together with about 25,000 housing models. The corporate presently has six tasks in advertising and development totaling about 1,400 housing models. In 2026, the corporate expects 4 extra tasks to be marketed and underneath development totaling 1,300 further housing models. The cities during which Enav is selling tasks embrace: Beer Yaakov, Tel Aviv, Ramat Gan, Kiryat Ono, Yehud, Haifa, Kfar Saba, Jerusalem, Netanya, Hadera, Bnei Brak and Eilat.
There was main progress lately in a lot of tasks which can be prepared for implementation by Enav: a allow has been obtained for the primary stage of the Herzl Advanced venture in Beer Yaakov, which is able to embrace a complete of about 2,000 housing models; a allow has been obtained for the Mohiliver Advanced in Yehud, which is able to embrace about 1,100 housing models, and a ceremony was held for the demolition of buildings within the first section of the venture; a plan has additionally been authorised for the Nurit Advanced in Jerusalem, which is able to embrace 452 housing models and an extra 2,500 sq. meters for commerce and places of work. As well as, a plan has been authorised for the Eli Cohen Advanced in Hadera, which is able to embrace 1,300 housing models
The settlement with Phoenix Insurance coverage was led by Enav CFO Adi Even. Enav’s authorized help was led by Adv Ariel Dinovetskey of Barr Dinovetskey & Co. The transaction was led on behalf of Phoenix Insurance coverage by Itzik Dagan, Supervisor of Non-Marketable Credit score. Authorized help for Phoenix was offered by Meitar legislation agency Companion Adv. Gal Feingold. The underwriters supporting the transaction are Gil Calderon and Dan Rimon from Menora Underwriting.
Enav, which was based 25 years in the past by Effi Katz, is without doubt one of the pioneers within the city renewal sector and is ranked as one of many main firms within the area in Israel. Enav is enterprise city renewal tasks which embrace housing, business house, places of work and inns, with the corporate specializing in massive and sophisticated demolition and reconstruction tasks. The corporate has a backlog of over 25,000 housing models to be constructed, encompassing a complete space of about 3,500,000 sq. meters in planning.
Enav CEO Effi Katz mentioned, “Enav welcomes the collaboration with Phoenix, one of many primary and influential institutional entities within the Israeli financial system. We’re presently working in dozens of enormous tasks in probably the most enticing areas of the nation, with a scale of tens of hundreds of housing models, whereas adhering to excessive requirements, meticulous planning and specializing in the wants of the neighborhood and the households who will dwell within the tasks. We see this transfer as a major monetary increase and leverage that can enable us to broaden our actions, create high quality housing options for hundreds of households, and proceed to have a constructive affect on cities in Israel within the coming years, whereas main the sector of city renewal in Israel.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on September 14, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
