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Sector Breakdown

Corporate Structure

83.4% held by DIC

Chairman: Refael Bisker
CEO: Segi Eitan
Web: www.nechasim.co.il/

Company's Stock Info

Property and Building Corporation Ltd. (PBC) , a public traded subsidiary of IDB Development Corp., is one of Israel's largest real estate concerns with two of its subsidiaries and affiliates listed on the Tel Aviv Stock Exchange. The company has a stable financial base and is rated AA by Maalot, Israel's rating agency. In addition, one of its subsidiaries is rated AA and two others are rated A+. PBC's operations encompass a full spectrum of real estate activity in Israel and abroad. The group's net profit in 2007 was NIS 170 million, compared to NIS 153 million in 2006. Revenues from PBC Group's various activities totaled NIS 1,028 million in 2007, with cash flow from operating activities totaling NIS 123 million

Income Producing Properties

PBC's activities include the initiation, development, planning, construction, rental and management of industrial, office, commercial and high-tech properties. PBC's activities are carried out both directly and through its subsidiaries: Gav-Yam Bayside Land Corporation Ltd.(Gav-Yam) (68%-owned, TASE), M.T.M. - Scientific Industries Center in Haifa Ltd. (50.1%), Ispro - The Israel Properties Rental Corp. Ltd. (100%), Hadarim Properties (100%) and others. PBC and its subsidiaries own 1,067,000 sq.m. of income-producing properties throughout the country in prime real estate locations. All of PBC's buildings are rented through long-term leases with index-linked payments. As of December 31, 2007, the occupancy rate was 95%, with rental income reaching NIS 427 million.

Residential Neighborhoods

PBC, Naveh-Gad (a subsidiary of Hadarim Properties) and Gav-Yam develop and build complete, large residential neighborhoods in prime real estate locations. PBC and its subsidiaries own land reserves with approved plans for residential neighborhoods on which 4,500 housing units can be built. Construction has begun on 1,150 housing units. Main projects are Marom Naveh in Ramat Gan; Neveh Ganim in Kiryat Motzkin; Shederot Naveh in North Tel Aviv; Em-Hamoshavot and Naveh Oz in Petach Tikva; The Lagoon in Herzliya; Ginot Gad in Jerusalem; Ha Kirya ha Yeruka in Giv'at Shmuel; Carmel V'yam in Haifa; Naveh Hapark in Modiin; and Ganim in Ganei Tikva.
In 2007, the PBC Group sold 413 housing units. Revenues recorded from housing sales totaled NIS 351 million.

International Activity

Las-Vegas USA - The establishment of 1,300 residential units and 70,000 sq.m. of commercial areas.
Tampa Florida USA - The establishment of 126 residential units and 1,000 sq.m. of commercial areas.
Bristol Virginia USA -The group has holdings in 45,000 sq.m of commercial property rented mostly to top American brands.
Hyderabad India - PBC, along with partners, purchased two lands with total surface of 230 dunams for developing residential, office and commercial projects comprehensive total built up surface of 560,000 sq.m.
England - PBC, along with partners, purchased 3 Hilton hotels in London in Birmingham and in cardiff . The hotels include about 2,000 rooms and suits and large space of conference centers.
Western Europe - The group has holdings in 31 buildings, totaling 177,500 sq. m. in Germany and Switzerland
Eastern Europe - The company, along with partners, purchased 27 dunams in Romania slated for a residential project comprehensive 800 residential units.

Citrus Investments

PBC, through Hadarim Properties, holds 45% of Mehadrin, which is engaged in wide-ranging operations in the citrus field industry including planting, cultivating, packing and marketing for the local market and for export. Mehadrin owns 15,000 dunams (3,750 acres) and provides services for thousands of dunams owned by others. Mehadrin enhances the value of its own land through rezoning for construction.

Other Activities

Bartan Holdings & Investments owns and manages sport and leisure complexes, and Hon Investments provides real estate management services.