Israel joins U.S. probe of Gilad Sharon over alleged $1.8M fra

Israel Police's national fraud unit has for over two years been conducting a criminal investigation of Gilad Sharon, son of former prime minister Ariel Sharon, on suspicion that he served as a conduit for transfering to his father $1.8 million from businessman Arie Genger.

Police suspect the money was transfered to Gilad Sharon in the guise of profits from a real-estate deal in Canada, details of which are contained in a lawsuit filed in Manhattan Supreme Court a week ago by Dalia Genger against her ex-husband, Arie, Gilad Sharon and their American lawyers.

Delek Real Estate in talks

JERUSALEM, Oct 28 (Reuters) - Israel's Delek Real Estate Ltd (DLKR.TA: Quote, Profile, Research) said on Sunday it is in talks with Netherlands-based investment group Kardan NV (KRNV.TA: Quote, Profile, Research) (KARD.AS: Quote, Profile, Research) to sell or merge its residential activity in Israel.

You can always go downtown

Around 50 years ago, city-dwellers began picking up and deserting the center of town, opting instead for green suburbs and satellite towns. A number of years ago, this trend reversed and many middle-aged couples decided to move from their single family homes with yards to plush apartments in town. As with other trends, Israel was not far behind.

Gaydamak in negotiations to take control of Atlas Estate Ltd

After acquiring control over Ocif Investments, Israeli-Russian billionaire has his eyes on another real estate company, seeking to acquire 18% of Atlas Estates for 65 million euros.
Arcadi Gaydamak is now in talks with Gadi and Dror Danker for the acquisition of 18% of the shares of Atlas Estates Ltd., which is currently controlled by Elran Real Estate, Yedioth Ahronoth had learned.

Hi-tech is on the move

Hi-tech Tel Aviv, watch out. The hi-tech industry seems to be drifting northwards, away from its original concentration in the Tel Aviv metropolitan area.

The planned hi-tech park in Yokneam (computer illustration)
Back when Israel's civilian science-oriented industries began taking off in the mid-Eighties, they were concentrated in three main geographical areas: Jerusalem, around the Intel complex in the Har Hotzvim industrial area; Rehovot, around the Weizmann Institute of Science - one of the world's major centers of scientific learning; and in the Matam Technological Park in Haifa, in the vicinity of the Technion Israel Institute of Technology.

Israel Real Estate

Danya Cebus Ltd. Is a thriving construction company based in Israel. Part of the Africa Israel group, Danya Cebus is involved in construction projects worldwide, in Europe and the former soviet Union, as well as Israel. The company has enjoyed sustained growth in recent years. Employing over 1,500 people, Danya Cebus generated an income of $215 million in 2000 and has backlog of more than $500 million worth of work. The company’s areas of expertise cover all construction sectors including residential, commercial, industrialized building and infrastructure projects. With 50 years of experience, the company has developed a supreme commitment to customer service, uncompromising quality, and fierce determination to meet timetables. Danya Cebus is a public company traded on the Tel Aviv Stock Exchange.

Jelmoli deal's off, war's on

One of "the biggest real estate deals Israelis ever did in Europe" turns out to be something other than actually done. On July 31st the local press went wild over the deal in which Yitzhak Tshuva's real estate giant Delek Global Real Estate, teamed up with Israeli businessman Egal Ahouvi, agreed to buy a portfolio of 88 yield-generating properties from Jelmoli. Then yesterday Delek stated that the adjusted price for the portfolio didn't adequately reflect the changes in the international commercial property market, and bowed out.

Delek and Ahouvi were to pay a vast NIS 12 billion (3.4 billion Swiss francs) for the portfolio and back then Jelmoli chairman Walter Fust had the warmest of words for his Israeli colleagues. The Jelmoli executive was confident that in Delek and Ahouvi, it had found the right buyers for the company's vast portfolio of assets in Switzerland, Fust said at the time: an international business group that could assure the further development of the properties.