Recently, the company completed a share buyback totaling approximately NIS 200 million, in addition to distributing a dividend of NIS 70 million to shareholders in April of this year.
Since the beginning of the year, the company has presented extensive business development activity - selling 47 residential units in the Solelim residential project to the Megureit Fund, acquiring land at Sde Dov for the construction of approximately 27,000 square meters of commercial and employment space, increasing the marketing rate of offices in the Solelim project, and adding a strategic partner for the establishment of the server farm project.
The short-to-medium-term income-generating real estate development activity is expected to yield an additional annual ROI of NIS 156-166 million, alongside residential development activity expected to generate an unrecognized gross profit of approximately NIS 227 million.
The company has 20 income-generating real estate projects at various planning and development stages, covering nearly 1 million square meters across a wide range of uses - employment, commerce, offices, and server farms. These projects have the potential for significant growth compared to the company’s current income-generating activity, mainly as a result of internal enhancement.
Recently, the company completed a share buyback totaling approximately 200 million NIS, in addition to distributing a dividend of NIS 70 million to shareholders in April of this year.
Since the beginning of the year, the company has presented extensive business development activity - selling 47 residential units in the Solelim residential project to the Megureit Fund, acquiring land at Sde Dov for the construction of approximately 27,000 square meters of commercial and employment space, increasing the marketing rate of offices in the Solelim project, and adding a strategic partner for the establishment of the server farm project.
Uzi Levi, CEO of Mivne Real Estate Group: "We are concluding a quarter and half-year reflecting continued growth in the company’s business activities, with a sharp increase in profits that reflects the enhancement of the company-owned assets. In light of the progress in our operations, we are confirming our forecasts for 2025.
During this period, we carried out many initiatives and transactions that will drive the company forward and significantly increase revenues. Currently, we are in advanced processes to lease additional spaces. Mivne Group currently has 20 income-generating real estate projects at various planning stages, covering nearly one million square meters across a wide range of uses - employment, commerce, offices, and server farms.
These reflect potential for significant growth compared to current income-generating activity, primarily based on internal enhancement. We are working intensively to advance the company’s business goals and will continue to operate with full momentum to create significant value for all stakeholders in the company."