Azrieli Group, founded by David Azrieli in 1982, is a leading Israeli real estate company listed on the Tel Aviv Stock Exchange (TASE). The company has developed iconic properties like the Azrieli Center in Tel Aviv and expanded through strategic acquisitions and projects, solidifying its position in the Israeli market.
Chronological Storyline (33 Milestones)
1982 CE
Azrieli Group Founded
David Azrieli establishes Azrieli Group in Israel, initially focusing on real estate development and management. #AzrieliGroup #realestate #Israel
Azrieli Group Founded By Rastaman3000 - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=10269205
1983 CE
First Commercial Property Acquisition
Azrieli Group purchases its first commercial property in Tel Aviv, marking the start of its Israeli portfolio. #AzrieliGroup #realestate
1993 CE
Azrieli Center Planning Begins
Azrieli Group initiates planning for the Azrieli Center in Tel Aviv, one of Israel's largest mixed-use developments. #AzrieliCenter #realestate
Azrieli Center Planning Begins By Ynhockey - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=90552286
1996 CE
Azrieli Center Construction Starts
Construction of the Azrieli Center begins, featuring three towers and a shopping mall. #AzrieliCenter #construction
1999 CE
Azrieli Center Round Tower Completed
The Circular Tower at the Azrieli Center is completed, becoming a landmark in Tel Aviv's skyline. #AzrieliCenter #architecture
2000 CE
Azrieli Center Square Tower Completed
The Square Tower at the Azrieli Center opens, adding to the complex's iconic design. #AzrieliCenter #realestate
2001 CE
Azrieli Mall Opens
The shopping mall at the Azrieli Center opens, revolutionizing retail in Tel Aviv. #AzrieliCenter #shopping
2003 CE
Azrieli Group Listed on TASE
Azrieli Group goes public on the Tel Aviv Stock Exchange, raising capital for expansion. #IPO #TASE #business
2004 CE
First Dividend Payment
Azrieli Group pays its first dividend to shareholders, reflecting strong financial performance. #dividends #finance
2005 CE
Expansion into Jerusalem
Azrieli Group acquires a commercial property in Jerusalem, expanding its geographic footprint. #realestate #Jerusalem
2006 CE
Entry into Residential Real Estate
Azrieli Group diversifies into residential development, launching its first housing project. #realestate #diversification
2007 CE
Azrieli Center Triangular Tower Completed
The Triangular Tower, the third and tallest tower at Azrieli Center, is completed. #AzrieliCenter #architecture
2008 CE
Global Financial Crisis Impact
Azrieli Group faces lower occupancy and rental income due to the global economic downturn. #financialcrisis #realestate
2009 CE
Recovery and New Projects
Azrieli Group launches new projects as the Israeli economy recovers from the crisis. #recovery #realestate
2010 CE
Establishment of Real Estate Fund
Azrieli Group sets up a dedicated real estate investment fund to acquire income-producing properties. #investment #realestate
2011 CE
Acquisition of Mall Stake
Azrieli Group acquires a controlling stake in a regional shopping mall, strengthening its retail portfolio. #acquisition #retail
2012 CE
Azrieli Mall Renovation
Major renovation of the Azrieli Center shopping mall to modernize and enhance visitor experience. #renovation #realestate
2013 CE
David Azrieli Steps Down as Chairman
David Azrieli steps down as chairman of Azrieli Group, but remains involved until his death. #leadership #transition
Jul 9, 2014 CE
David Azrieli Dies; Danna Azrieli Takes Over
Founder David Azrieli passes away at age 92; his daughter Danna Azrieli becomes chairperson. #leadership #founder
2015 CE
Eyal Henkin Appointed CEO
Eyal Henkin is named CEO of Azrieli Group, bringing experience from the real estate sector. #CEO #management
2016 CE
Acquisition of Two Tel Aviv Office Buildings
Azrieli Group acquires two office buildings in Tel Aviv for NIS 1.4 billion, expanding its commercial holdings. #acquisition #realestate
2017 CE
Azrieli Sarona Tower Completed
The Azrieli Sarona Tower, a 238-meter skyscraper in Tel Aviv, is officially opened. #AzrieliSarona #architecture
Azrieli Sarona Tower Completed By Skypro \ Rothem Rogovsky (סקייפרו / רותם רוגובסקי) - has been email to me, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=110705142
2018 CE
Acquisition of 18% Stake in Shufersal
Azrieli Group acquires an 18% stake in Shufersal, Israel's largest supermarket chain, for NIS 1.3 billion. #acquisition #retail
2019 CE
Launch of Azrieli Town Project
Azrieli Group launches Azrieli Town, a mixed-use development in central Israel. #development #realestate
2020 CE
COVID-19 Rent Relief for Tenants
Azrieli Group provides rent relief to tenants affected by the COVID-19 pandemic. #COVID19 #realestate
2020 CE
Issuance of Green Bonds
Azrieli Group issues its first green bond, raising NIS 1.2 billion for sustainable projects. #greenbonds #sustainability
2021 CE
Increased Stake in Shufersal to 25%
Azrieli Group raises its stake in Shufersal to 25%, strengthening its influence. #acquisition #retail
2022 CE
Azrieli Tower (New) Construction Begins
Construction starts on a new office tower at Azrieli Center, designed to be one of Tel Aviv's tallest. #construction #realestate
2022 CE
40th Anniversary Celebration
Azrieli Group marks its 40th anniversary with special events and community initiatives. #anniversary #milestone
2023 CE
Acquisition of Properties in Haifa
Azrieli Group expands north with the acquisition of two commercial properties in Haifa. #acquisition #realestate
2023 CE
Credit Rating Upgraded to AA-
S&P Maalot upgrades Azrieli Group's credit rating to AA- with stable outlook. #creditrating #finance
2024 CE
Launch of Mixed-Use Project in Rishon LeZion
Azrieli Group announces a new mixed-use development in Rishon LeZion, including offices and retail. #development #realestate
2024 CE
Azrieli Group Market Cap Exceeds NIS 50 Billion
Azrieli Group's market capitalization surpasses NIS 50 billion for the first time. #marketcap #finance