Melisron CEO Ofir Sarid Takes Medical Leave; Oren Hellinger Appointed Acting CEO

Ofir Sarid, the CEO of real estate company Melisron, is taking an immediate medical leave of absence due to health reasons. The company announced Wednesday that its board of directors has appointed Oren Hellinger, the current CFO, to serve as acting CEO while continuing his duties as CFO. Melisron has not provided further details regarding the expected duration of Sarid's absence.

Sarid has led Melisron since late 2019. Prior to his appointment as CEO, he served as the company's CFO for eight years, overseeing financial and business operations and managing relationships with the capital markets and shareholders. His previous experience includes a role as CFO at 013 Netvision.

During Sarid's tenure, Melisron expanded its operations beyond its traditional core businesses of malls and offices. A significant move was entering the residential development sector through the acquisition of Aviv Initiative. Melisron acquired a 50% stake in Aviv Initiative in 2022 for approximately NIS 600 million and completed the purchase of the remaining shares in 2024, valuing the company at NIS 1.25 billion, making it the group's residential arm.

Melisron has continued to grow its residential business alongside its mall and office portfolio. Notably, Aviv Melisron recently won a bid for land in Sde Dov to build 320 apartments, at a cost of approximately NIS 605 million, with construction planned for 2025. Sarid had previously explained that acquiring an existing company was chosen to expedite entry into the residential market and leverage existing expertise.