Hamashbir to open 11 department stores

Michal Margalit Author

The chain will invest NIS 55 million in the expansion.

New Hamashbir Lazarchan Ltd. (TASE:MSZB) plans to open 11 new department stores at a total investment of NIS 55 million. The chain currently has 26 stores nationwide. The aggregate space of the new stores will be 22,000 square meters.
The stores will open at the Star Center in Ashdod, owned by Financial Levers Ltd. (TASE:LVR); new malls in Bat Yam and in Nahariya, both owned by Azorim Investment, Development and Construction Ltd. (TASE: AZRM); the Azrieli Mall in Modi'in, owned by Azrieli Group; the G Mall in Kfar Saba, owned by Gazit-Globe Ltd. (TASE: GLOB), a new mall in Kiryat Ono, the Emek Center in Afula, and a stand-alone branch in Netivot.
New Hamashbir will also expand its stores in Herzliya and in the Rehovot Mall.

Published by Globes [online] Copyrights, Israel business news

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