Wednesday, March 5, 2008

Property and Building reorganizes malls management

The company owns Yishpro centers in Modiin, Beersheva, and Kiryat Gat.

Sources inform ''Globes'' that IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Property and Building (TASE: PTBL) has decided to reorganize all the management of its malls under one umbrella group, in a similar fashion to the Azrieli Group and Israel Malls. The company intends to follow this by re-branding its entire mall segment.

Among the malls held by Property and Building are the Kiryat Ono Mall (which it jointly owns with Amot Investments Ltd. (TASE:AMOT in equal shares), the Givatayim Mall (jointly owned with Clal Industries and Investments (TASE: CII), the Em Hamoshavot mall in Petah Tikva, and the Yishpro chain of malls in Modiin, Kiryat Gat, Ness Ziona, and Beersheva, as well as other commercial properties.

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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