Migdal shopping for Gindi household’s stake in Kenyon Hazahav
Insurance coverage firm Migdal is shopping for the Gindi household’s share of the Kenyon Hazahav (Golden Mall) shopping center in Rishon LeZion for NIS 840 million. Kenyon Hazahav was constructed within the Nineties by brothers Moshe and Yigal Gindi. Practically twenty years in the past, Migdal purchased 75% of the mall for NIS 1 billion.
Lat yr, it was reported that Migdal had signed an settlement to promote 51% of the mall to the Melisron group for NIS 818 million, which might have put the mall’s worth at round NIS 1.5 billion. To date there was no official remark both by the Gindi household or by Migdal.
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The deal covers three flooring, together with ground minus 1 which is at the moment being renovated. In April this yr, in an interview with “Globes”, Tal Gindi, daughter of Moshe Gindi, who represents the house owners of Kenyon Hazahav and runs it in observe, talked about measures she had not too long ago promoted, amongst them the renovation of glass frontages at a value of NIS 180 million and the development of the brand new manufacturers ground (the “platinum” ground) the place giant shops of Israeli trend firms reminiscent of Delta and Fox might be opened.
The launch of the brand new ground, which is at superior levels of building and handover, is predicted in the course of the summer time. Tal Gindi additionally spoke of a brand new meals ground with eating places and cafes, and even of a change within the city constructing plan to permit the development of an workplace tower on the mall web site.
The doable entry of Melisron into possession of Kenyon Hazahav has not but been formally authorised by the Competitors Authority, as Melisron has substantial holdings in malls within the central area. Kenyon Hazahav, which thus far was owned by entities not from the buying malls sector, has positioned itself as a robust regional participant with giant numbers of holiday makers and a excessive occupation price at a few of the highest rents within the sector.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 29, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
