Isranomics

Gav Yam – 35% growth in FFO to NIS 82 million. Expectations are high for this year.

by | Aug 14, 2022 | Real Estate | 0 comments

Gav Yam are expecting 2022 to be the most profitable year in its history.

The real estate company which specialises in building high-tech parks and leasing its properties to the companies in this space, has reported 11% increase in the rental rates in the new contracts signed during Q2. Funds from operations during the first six months indicate that the company is on course to deliver a most profitable year in its history. In addition, the company announced the payment of a dividend – NIS 130M.

According to the CEO, Avi Yaakovovitz, the main corporations in the technology sector represented in Israel continue to hire new personnel. In fact, according to him, the demand in main cities outstrips the supply. Gav Yam’s recently reported results underscore this trend – during Q2 the company signed 31 new contracts for the rent of 23,000m² with the average rate increase of 11% (whereas the first six months of the year indicate 8% increase compared to 2021).

Gav Yam prides itself in working with the giants of the high-tech industry. With the occupancy rate standing close to 98%, the company presently has 22 technology, logistics and industrial parks. Among its clients are Microsoft, Amazon, Nvidia, Dell, Apple, Google and many others.

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