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Ganden-IDB: A real estate giant is born.
(From Israel Business Arena)
Byline: Elazar Levin
Ganden's acquisition of the controlling interest in IDB Holding Corp. (TASE:IDBH) creates Israel's largest real estate group. The group is larger than Housing and Construction Holding Co. (Shikun u'Binui) (TASE:HUCN). The aggregate gross aggregate market value of IDB-Ganden's main companies (including partners) is $925 million, compared with $300 million for Housing and Construction. The breakdown is as follows:
Residential: IDB owns 64% of Azorim Investment, Development and Construction (TASE:AZRM) (the rest is traded on the Tel Aviv Stock Exchange), which is building 2,300 apartments across the …
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