Late CEO's Vision Drove Melisron's Expansion Into Residential Real Estate
Translated & summarized from Ice by baba
Former Melisron CEO Ofir Sarid, in a posthumous interview, detailed his plan to expand the company into residential real estate, a move approved by Liora Ofer. This strategy led to Melisron acquiring Aviv Initiative in 2022 and 2024, and securing a major land deal in Tel Aviv in 2025. Sarid, who died at 54, expressed pride in initiating this diversification.
The story in 5 lines · by baba
- Late CEO Ofir Sarid spearheaded Melisron's expansion into residential real estate after the COVID-19 crisis.
- Liora Ofer, Melisron's chairwoman, approved Sarid's strategic plan for diversification.
- Melisron acquired Aviv Initiative in 2022 and gained full control in 2024 for approximately 1.25 billion shekels.
- The company secured a tender for 320 apartments in Tel Aviv's Sheba Field complex in 2025.
- Sarid, who died at 54, expressed pride in the company's future growth driven by these moves.
Former Melisron CEO Ofir Sarid, who passed away at 54 after a serious illness, revealed in a posthumously published interview that he initiated the company's significant expansion into residential real estate. Sarid explained that following the COVID-19 crisis, he presented a strategic plan to the board to diversify Melisron beyond its traditional sectors of malls and offices, proposing a third business segment. Liora Ofer, the controlling shareholder and chairwoman, agreed to this expansion.
The new focus materialized in 2022 when Melisron acquired a 50% stake in Aviv Initiative, a residential development and urban renewal company, for approximately 600 million shekels. Two years later, in 2024, Melisron increased its holding by purchasing the remaining shares, valuing the company at about 1.25 billion shekels and gaining full control of the residential operations.
Further investments followed in 2025, with Aviv Melisron winning a tender for land in Tel Aviv's Sheba Field complex to build 320 apartments, at a cost of around 605 million shekels. Sarid, who became CEO in late 2019, navigated the company through the pandemic and then spearheaded this strategic shift into residential development.
In his final recorded conversation with Eran Gefen for the "Half Hour of Inspiration" podcast, Sarid expressed pride in his accomplishments at Melisron and his satisfaction that the expansion strategy would continue to strengthen the company.
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