Israeli Real Estate

Shikun & Binui Ltd.,  Israel’s leading infrastructure and real estate company, announced today its results for the second quarter ended June 30th, 2013, which saw revenues increase to 1.75 Billion shekels and growth of 44% in revenues of Shikun & Binui Real Estate this quarter, compared with Q2 of 2012,

Noteworthy events during and subsequent to the Second Quarter and Key Results:

  • The Group’s projects backlog in the infrastructure and construction segments totaled NIS 11.5 billion at the end of the quarter, of which NIS 8.9 billion ($2.5 billion) originated in the Group’s activities outside of Israel. At the end of 2012, the projects backlog totaled NIS 9.7 billion, of which NIS 7.1 billion ($1.9 billion) originated in the Group’s activities outside of Israel.
  • Shikun & Binui Real Estate sold 208 apartments during the second quarter of 2013, for a total of NIS 272 million. In the first half of 2013, 403 units were sold for a total of NIS 538 million.

“The continued growth of Israel’s leading real estate company bodes well for the entire Israeli real estate industry.  It is indeed really quite simple to note – growth of revenues, profits and projects across the board. It seems Israeli real estate is – thankfully – immune from the political crisis’ facing many of Israel’s neighbors,” remarked leading Israeli entrepreneur Ron Hershco.

 

More information is available at: http://www.socialfollow.com/profiles/ron-hershco/

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