Metropolis carries out city renewal tasks in central Israel. The deal values it at NIS 800 million.
The growth in residential development in Israel, and in city renewal specifically, has led to an fascinating exit. At this time, Amir Shaltiel, founder and chairperson of Eldar Group, which offers in city renewal, introduced his intention of promoting Eldar Group’s 25% stake in Metropolis to Allied Group, headed by Prof. Itzhak Swary. The rising deal values Metropolis at NIS 800 million.
The businesses concerned are privately held, however sources inform “Globes” that Shaltiel is predicted to obtain NIS 200 million in money for his Metropolis stake.
Metropolis was based in 2011 collectively by Eldar Group and Allied Group, and is lively in city renewal. The corporate has carried out vacate and construct tasks in central Israel, a distinguished one being the renovation of Sde Boker Road in Givatayim.
Eldar Group was based by Shaltiel in 1999. Moreover city renewal, it offers in long-term rental housing and mortgage consultancy. Shaltiel owns 90% of the corporate. Financial institution Leumi, by means of its funding arm Leumi Companions, can also be a shareholder.
Printed by Globes, Israel enterprise information – en.globes.co.il – on January 8, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
Amir Shaltiel credit score: Eyal Izhar
