Yishpro-Tanufort Joins Ari Real Estate in Major G City Acquisition Deal

Yishpro-Tanufort, a commercial real estate company owned by Kidan Dahari and Yaron Adiv, announced on Tuesday a strategic partnership with Ari Real Estate, controlled by Tzachi Abu, to jointly acquire control of G City alongside Haim Katzman. The new 50:50 partnership agreement outlines their combined efforts to manage, develop, and enhance G City's asset portfolio.

The deal involves Yishpro-Tanufort and Ari Real Estate jointly purchasing 26% of G City shares from the current controlling shareholder, Norstar (controlled by Haim Katzman), for approximately 661 million shekels, valuing the company at about 2.6 billion shekels. The agreement includes an option mechanism for acquiring or selling an additional 7% of shares for 192 to 204 million shekels, potentially increasing the partnership's stake to 35%, while Norstar's holding would decrease to 21%.

Yishpro-Tanufort plans to finance the acquisition through its own resources and debt. Following the transaction, G City intends to raise around one billion shekels to strengthen its capital structure and enable Norstar to significantly reduce its financial debt.

Kidan Dahari, owner and chairman of Yishpro-Tanufort, expressed confidence in replicating past successes with G City, emphasizing the complementary strengths and financial resilience of the partnership with Tzachi Abu's Ari Real Estate. He praised Haim Katzman for building G City into a leading real estate company and highlighted plans for growth, renewal, and significant value creation.

G City is a global real estate group specializing in acquisition, development, and management of mixed-use commercial, office, and residential properties in dense urban areas across Israel, Europe, North America, and Brazil. As of Q1 2026, it manages 85 properties with approximately 1.7 million square meters of leasable space valued at around 29 billion shekels.

Ari Real Estate, led by businessman Tzachi Abu who holds about 51.3% of its shares, has established itself through land acquisition and development of commercial centers, including Star Center Ashdod, Star Mall Nahariya, MYMALL Limassol in Cyprus, and Star Center Eilat under construction. Additionally, its fully owned subsidiary, S.L.S. Parsim Ltd., won a tender from the Israel Land Authority to plan and build a gas-based power station in the Menashe Regional Council area.