Shufersal Real Estate Arm to Build Major Negev Shopping Complex

Laro Real Estate, the property arm of the Shufersal Group, has won a tender from the Israel Land Authority to establish a large commercial, employment, and tourism complex in the Ramat Negev Regional Council. The company will pay NIS 25 million for a 20-dunam plot near the IDF training bases known as 'City of Camps' (Bahadim). The total investment in the project is estimated at NIS 100 million.

The new complex will span approximately 16,000 square meters and include a modern shopping center, a Shufersal supermarket branch, fashion stores, cafes, and restaurants. The location, while seemingly surprising, is strategically chosen to serve tens of thousands of soldiers stationed at the nearby military base, residents of the Ramat Negev region, and travelers heading south on Route 40 towards Mitzpe Ramon and Eilat.

This acquisition aligns with Laro Real Estate's broader strategy to expand its commercial real estate operations. It follows two significant deals last month: increasing its stake to 100% in the Kordani complex in Kiryat Motzkin for NIS 85 million, and acquiring an under-construction shopping center in the Havatzelet HaSharon neighborhood for NIS 69 million. In both those locations, Shufersal plans to integrate supermarket branches alongside other income-generating properties.

Shufersal stated, "We are proud and happy about winning the important tender from the Israel Land Authority in Ramat Negev. The Negev region in general, and Ramat Negev in particular, show enormous growth potential, and we see this win as a strategic milestone for the company. We will continue to work towards developing the land, with high standards of planning, execution, and commitment to the community and environment in which we operate." Eran Doron, head of the Ramat Negev Regional Council, welcomed the move, thanking Shufersal and the Amir brothers for their confidence in the region's growth potential.