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 properties across Israel valued at millions of shekels. These properties, acquired over decades, are used for political activities, branch operations, and rental income, providing a stable base unlike parties that rent facilities. Maki's extensive real estate portfolio contrasts with other parties like Likud, which has been selling off properties.
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 Maki property in Tel Aviv, purchased in 1970, is valued at an estimated NIS 20 million.
- Maki's properties are used for ongoing political activities and branch operations, not just during elections.
- The party's real estate holdings provide rental income and serve as meeting places for various groups.
- Padi Abu Younes, Maki's Central Committee Secretary, highlighted the long-term preservation of party assets.
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 central Tel Aviv, purchased in 1970 for an estimated NIS 20 million. This building, located near Rothschild Boulevard, was once adorned with communist flags and is now rented out, with its first floor serving as a warehouse for Cafe Noir. 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 party, which has sold eight properties since 2021, some to party affiliates, with reports of significant discrepancies between sale prices and valuations. Maki's property holdings include five buildings in Haifa, a significant complex in the village of Yassif near Acre, and properties in Nazareth, Holon, Ramat Gan, Jerusalem, Beersheba, and other locations across the country.
Abu Younes emphasized that the real estate holdings provide more than just financial value. They enable the party to maintain connections with the public and operate branches year-round, unlike other parties that rent facilities primarily during election periods. Maki utilizes its properties for ongoing activities, with some spaces rented to the Hadash faction within the Histadrut labor union, the Israeli Communist Youth League (Banki), a dance school, and a doctor's office. These properties serve as vital hubs for political activity, meeting places, and rental income.
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