GT Real Estate Buys Rosh Pinna Mall for $13.5 Million

Businessman Gabriel Trabelssi is expanding his real estate activities to northern Israel with the acquisition of the Rosh Pinna Mall for approximately 48.5 million shekels (about $13.5 million). The deal, through his company GT Real Estate, includes full rights to the mall, its adjacent parking lot, and the land it occupies.

The Rosh Pinna Mall spans about 4,750 square meters of retail space and currently generates an annual net operating income (NOI) of around 3 million shekels, reflecting a 6.2% yield based on the purchase price. GT Real Estate anticipates that after renovations and improvements, the NOI could increase to approximately 5 million shekels annually, yielding over 10% on the transaction price. Current tenants include fashion retailers like Tentoon, Renoir, and Twentyfourseven.

This acquisition brings GT Real Estate's portfolio of income-generating shopping centers to nine. The company recently received a building permit for a new commercial center in nearby Hazor Hagalilit, slated to be named GT Galil. This new center will cover about 6,600 square meters and is expected to commence construction soon, with an opening planned for late 2027. Negotiations are underway with several retail chains for the new center, which will feature retail, dining, leisure, and tourism spaces, including a supermarket and a large discount store.

Trabelssi stated that the company is deepening its presence in the northern region and seeking further attractive opportunities, believing that investments in income-generating properties and commercial centers in these areas meet genuine needs and create long-term value. GT Real Estate, managed by CEO Eyal Haberfeld, specializes in initiating, developing, and managing commercial real estate, operating centers under the GT Centers brand in cities such as Sderot, Netivot, Ofakim, Jerusalem, and Eilat. The company also has commercial centers under development in Dimona, Ofakim, Arad, and Hazor Hagalilit, along with a logistics complex in Ofakim, managing a total of approximately 120,000 square meters of income-producing real estate.