At the end of May and again last week, Oron announced tenders worth a combined NIS 362 million for preliminary enabling works on the metro. The contracts cover relocating sewage, water, electricity and communications lines, building retaining and support walls, and paving and development work at two planned depot complexes in Rishon Lezion and Or Yehuda. These are not yet the main construction tenders that major contractors are chasing, but the announcements sent Oron’s stock up 8% after the first disclosure and 14% after the second.
The market’s enthusiasm reflects more than the metro alone. Industry sources point to a broader recovery in infrastructure, expectations for large projects in coming years, and Oron’s ability to supply much of its own raw materials and labor. The company is seen as a smaller version of Shapir, focused mainly on executing infrastructure projects, unlike larger peers such as Electra, Ashtrום, Shikun & Binui and Danya Cebus, which are also active in housing, offices and income-producing real estate.
Oron, led by Yoel Azaria as chairman and Gili Azaria as CEO, was founded in 2003 and operates in three areas. Its core infrastructure and construction division accounted for 53% of revenue in 2025, with about 65% of that coming from public bodies and government institutions. Current projects include widening Route 6, building the Metronit line between Rehovot and Rishon Lezion, and expanding inspection and food areas at Ben Gurion Airport. The group also develops residential projects and runs an industrial business that produces quarry materials, asphalt and concrete, and it plans to invest about NIS 100 million over the next three years in additional concrete plants.
For 2025, Oron reported revenue of NIS 2.04 billion, up 10% from 2024, but net profit attributable to shareholders fell 17% to NIS 30 million because financing costs rose. In the first quarter of the year, which the article says was hurt by the war with Iran that began in late February, revenue fell 17% year on year to NIS 418 million, while operating profit held at NIS 26 million and net profit dropped 25% to NIS 6.1 million. Housing still made up 28% of 2025 revenue, but the segment weakened as the market slowed and completed projects were replaced by new ones, with sales falling from 389 apartments in 2024 to 79 in 2025, and just five apartments in the first quarter of 2026 versus 22 a year earlier.
