Communist Party of Israel Holds Vast Real Estate Empire
Translated & summarized from Calcalist by baba
The Israeli Communist Party (Maki) is the second wealthiest party in the Knesset, possessing 32 real estate properties across Israel valued in the tens of millions of shekels. Acquired mostly in the 1970s and earlier, these properties provide rental income and serve as operational bases for the party and its affiliates. This extensive portfolio contrasts with other parties that have sold assets or rely on temporary rentals.
The story in 5 lines · by baba
- The Israeli Communist Party (Maki) owns 32 properties across Israel, making it the second wealthiest party.
- A key property in Tel Aviv, purchased in 1970, is estimated to be worth NIS 20 million.
- Maki's real estate holdings are used for rental income and ongoing political operations.
- The party has preserved its properties, unlike many others that have sold theirs.
- Properties are rented to various groups, including the Hadash faction and the Communist Youth League.
The Israeli Communist Party (Maki) is the second wealthiest party in the Knesset, trailing only the Likud. Maki, the legal entity behind the Hadash faction, derives its wealth not from state funding or member contributions like other parties, but from an extensive real estate portfolio. The party owns 32 properties across Israel, some in highly surprising locations.
One notable property is a three-story building in Tel Aviv, purchased in 1970 for an estimated NIS 20 million. Located on a prestigious street near Rothschild Boulevard, the building, which houses the "ex-territory" of communist anti-Zionism, has been rented out, with its first floor currently used as a warehouse for Cafe Noir. Until recently, red communist flags adorned the third floor, now replaced by signs for the Joint List.
Padi Abu Younes, Secretary of Maki's Central Committee, stated that many of the party's properties were acquired in the 1970s or during the state's early years and have been carefully preserved, unlike those sold by many other parties. This contrasts with the Likud, which has sold eight properties since 2021, some to party associates, with reported discrepancies between sale prices and valuations.
Maki, founded in 1919 as the "Hebrew Socialist Workers' Party," has a long history, including name changes and its current iteration formed after the 1948 War of Independence. The party's 32 properties are spread across 24 localities, including significant holdings in Haifa, such as a three-story building valued at NIS 3-4.2 million, and a large complex in the village of Yassif near Acre.
Beyond major buildings, Maki also owns apartments, offices, and storage units in cities like Holon, Ramat Gan, Jerusalem, and Beersheba. According to Abu Younes, these properties are crucial for maintaining grassroots connections and operating party branches year-round, unlike other parties that rent facilities primarily during election periods. Some properties are rented to the Hadash faction within the Histadrut labor union, the Israeli Communist Youth League (Banki), a dance school, and a doctor, providing both political bases and rental income.