Israel’s Azrieli Group Enters Residential Real Estate
Israel’s Azrieli Group to acquire 67% of ZMH Hammerman in USD 232 million deal, securing regulatory clearance.
Azrieli Group, one of Israel’s leading developers of shopping malls and office towers, has agreed to purchase a 67% stake in residential construction company ZMH Hammerman.
The transaction, which values ZMH Hammerman at NIS 873 million marks Azrieli’s strategic expansion into the residential property market, diversifying its portfolio beyond commercial assets.
The Israeli Competition Commissioner has already approved the acquisition, a key procedural step toward completion. The move positions Azrieli to capitalize on the growing demand for housing in Israel while leveraging ZMH Hammerman’s construction expertise to drive new residential projects.
Barnea advised Azrieli Group, while Gornitzky represented the independent committee of ZMH Hammerman.
