Communist Party's Real Estate Empire Revealed as Second Wealthiest in Israel
Translated & summarized from Ice by baba
The Israeli Communist Party (Maki), the organizational basis for the Hadash Knesset faction, has been revealed as the second wealthiest party in Israel, holding 32 properties nationwide valued in the tens of millions of shekels. The party's real estate strategy, developed over decades, generates significant rental income, supporting its operations and ideological activities. This financial strength contrasts with Maki's anti-capitalist platform, positioning it paradoxically behind only the Likud party in wealth.
The story in 6 lines · by baba
- The Israeli Communist Party (Maki) is the second wealthiest party in Israel, holding 32 properties nationwide.
- Maki's real estate portfolio is valued in the tens of millions of shekels.
- The party's most valuable asset is a three-story building in Tel Aviv worth at least 20 million shekels.
- Properties are located across 24 municipalities, including major cities and Arab towns.
- Rental income from these properties supports Maki's operational and ideological activities.
- The party's wealth stems from a long-term real estate acquisition and retention strategy.
The Israeli Communist Party (Maki), which forms the organizational basis for the Hadash Knesset faction, has been revealed to be the second wealthiest party in Israel, trailing only the ruling Likud party. This comes as a paradox, given Maki's public stance against capital concentration and capitalism. Unlike other parties that rely on substantial state funding or donations, Maki has built its financial empire through a long-term real estate strategy.
According to reports from Maki to the Registrar of Parties, the party owns 32 properties across 24 municipalities nationwide, with a total estimated value in the tens of millions of shekels. The most valuable asset is a three-story building in Tel Aviv, purchased in 1970 for at least 20 million shekels, with its ground floor leased to the popular "Kafé Noir" restaurant and upper floors used for Hadash's ideological activities.
Maki's property portfolio is diverse, including five buildings in Haifa valued between 3 to 4.2 million shekels, offices, warehouses, and apartments. The party also owns a large complex in the Galilee village of Yasif, an apartment and land in Nazareth, and residential apartments and warehouses in central Israeli cities like Holon, Ramat Gan, and Rishon Lezion, as well as properties in Arab towns such as Tayibe and Umm al-Fahm.
While other parties face high rental costs during election campaigns, Maki has adopted a conservative approach, retaining properties acquired decades ago. These assets generate ongoing rental income, which supports the Hadash faction in the Histadrut labor union and the Communist Youth Movement (Bnk'y), allowing them to operate year-round without reliance on external funding. Maki's history dates back to 1919, evolving through various names before returning to its original designation.
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