Jerusalem Couple's Real Estate Journey from Market Stalls to Half-Billion Shekel Deal
Translated & summarized from Ynet by baba
Miki and Carmit Ne'emi, a Jerusalem couple, have become prominent real estate developers, culminating in their acquisition of 126 dunams at Mesubim Junction for 550 million shekels in 2018. The Ne'emi Group is developing this site into Ne'emi Park, a major commercial and office complex. The couple, who immigrated from Iran and started with a market stall, built their success through a combination of business acumen and a commitment to developing properties within Israel. Their daughters are also involved in the family business.
The story in 6 lines · by baba
- Miki and Carmit Ne'emi acquired 126 dunams at Mesubim Junction for 550 million shekels in 2018.
- Ne'emi Group is developing the site into Ne'emi Park, a large office and commercial complex.
- Miki Ne'emi immigrated from Iran as a child with his family.
- The couple transitioned from importing housewares to real estate development.
- They emphasize a commitment to developing properties within Israel.
- Their daughters are also involved in the family business.
Miki and Carmit Ne'emi, a Jerusalem couple who built their business empire from humble beginnings, have emerged as major players in Israel's real estate market. Their company, Ne'emi Group, has developed extensive projects, including the expansive Ne'emi Park in the central city of Ramat Gan, situated at the crucial Mesubim Junction. This ambitious project spans 126 dunams and will feature 13 buildings offering hundreds of thousands of square meters for offices, commerce, and a park, with over 90% of Building A already completed and occupied by finance and high-tech firms.
Miki Ne'emi, 55, immigrated to Israel from Iran at age nine with his mother and eight siblings, following his father, Moshe, who was a Jewish Agency activist and had been smuggled out after the Iranian Revolution. The family settled in Jerusalem, where his father established a housewares store in the Mahane Yehuda market. After his IDF service, Miki began importing housewares, founding a successful business called Ne'emi MTV.
Carmit, 52, whom Miki met through a matchmaker and proposed to on their first date in 1998, joined him in business. Together, they transitioned from importing to real estate development. Their early ventures included building a logistics warehouse and later developing their first mall in Beit Shemesh, followed by another in Netanya. In 2021, they acquired a 17-dunam plot in Beit Shemesh for a commercial and employment project valued at approximately 145 million shekels.
A pivotal moment came in January 2018 when the Ne'emis acquired 126 dunams at Mesubim Junction from Bezeq for 550 million shekels, outbidding established real estate giants like Azrieli, Amot, and Gav Yam. Miki Ne'emi recalls seeing a news report about Bezeq selling the land and immediately contacting them. Despite initial indications that the deal was unlikely, he secured a meeting, and within 20 minutes, offered to buy the entire plot. The deal was finalized rapidly, with Carmit transferring a 30 million shekel earnest money deposit and securing a 500 million shekel bank guarantee.
The Ne'emis emphasize their commitment to Israel, rejecting international real estate investment opportunities to focus on building the country. They view Ne'emi Park as a significant development that will enhance the local real estate value and create a vibrant commercial hub. Despite their success, they maintain a modest approach, focusing on hard work and family values, with their two daughters also involved in the business.