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Azrieli Group

Companies/Israel  •  Curated by Admin Timeline.sg

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
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
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
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