Electra Real Estate Ltd. is one of the leading real estate companies in Israel. The company was established in 1994. Electra has been operating overseas since 1997 and the major growth in the company’s activities has taken place over the past Six years. Electra Real Estate had a successful public offering on the Tel Aviv Stock Exchange in August 2005. The Company is ranked BBB+ by Maalot.
Electra Real Estate owns approximately 50 Income-Producing assets, and another 10 projects under development. The total assets’ area the company owns amounts to 700,000 sq.m. About 95% of the company’s income derives from its overseas assets and 5% from assets in Israel.
Areas of Operation
Electra Real Estate operates in Israel and overseas in the Income-Producing Commercial Property sector including office buildings, shopping malls, logistics centers and hotels. In addition, the company is also active in developing office and residential projects in Israel and abroad.
Israeli Activities In Israel, the company owns 3 office buildings including: Electra ower in Tel-Aviv; Omega Building in Haifa and The Kodak Building in Petach Tikva. Electra Real Estate is developing a project on the Tel Aviv seafront (sea-one Project), which will include 230 hotel rooms , and an additional 45 exclusive apartments for sale. Project website: http://www.seaone.co.il/.
The company is also developing luxury office tower in. Haracevet St, Tel Aviv.
International Activities
UK: Electra owns 3 office buildings with long-term leases to the British Government, banks and insurance companies. The company also owns 9% of a fund, which has acquired 16 hotels in the UK, leased for 30 years to the Hilton chain
US: Electra owns 6 office buildings in various US cities including Cleveland, Saint Louis, Louisville and Chicago. The buildings are rented on long-term leases for various periods.
Canada: Electra operates in Montreal and Toronto. In Montreal, the company owns 8 office buildings in the city center. In Toronto, the company owns 1 office building.
Germany: The Company owns 24 income-producing properties. The buildings are located in Munich, Hamburg, Nuremberg, Frankfurt, Berlin, Dusseldorf, Leipzig and Stuttgart, and are rented on long-term leases for various periods.
Switzerland: The Company owns 4 buildings. one building in Zurich ,one building in Luzern and two in Biel.
Benelux: In the Netherlands & Luxemburg: the company own three Shopping Centers rented to Hornbach. In Belgium, the company owns 60% of a hotel in Antwerp, with a long-term lease to the Hilton chain.
In India: The Company formed a partnership along with a local partner for real estate investments in India. So far, the partnership purchased five plots in total area of 440 dunams. Two plots of land in the city of Hyderabad, India. One plot, covering an area of some 140 dunams, is near the new city airport and it is designated for about 300,000 sq.m. of office and logistic buildings. The second plot, covering an area of some 100 dunams, is near the city center and it is designated for about 2,400 housing units. Two more plots in Chennai, covering an area of some 170 dunams, are designated for commerce and housing. An additional plot in Mysore, covering an area of some 38 dunams, is designated for housing.