Historic Religious Zionist Real Estate Firm Moshevet Explores Sale or Investment Options in US Talks
Translated & summarized from Srugim by baba
Moshevet, a historic Religious Zionist real estate firm owned by Hapoel HaMizrachi, is reportedly exploring sale or investment options during recent US meetings. Previous sale attempts faced legal and internal opposition over transparency and valuation. The Federation confirms the US trip was private but notes growing interest from diaspora Jews in Israeli housing. Ownership restructuring is under consideration to benefit the Religious Zionist community.
The story in 6 lines · by baba
- Moshevet's chairman and CEO recently held talks in the US about a potential sale or investment.
- Previous 2022 sale attempt for 500-510 million shekels faced legal challenges over transparency.
- Company valued at 750-800 million shekels, higher than prior offers.
- Moshevet has built over 100,000 housing units serving the Religious Zionist community.
- Hapoel HaMizrachi Federation owns Moshevet and is considering ownership restructuring.
- Federation states US trip was private but included participation in a New York housing fair.
Moshevet, a historic real estate company closely tied to Religious Zionism and owned by the Hapoel HaMizrachi Federation, is reportedly engaged in discussions in the United States regarding a potential sale or investment partnership. Chairman Avi Soliman and CEO Alon Yonian traveled recently to the US, though no official details have been released about the meetings, the parties involved, or the scope of the negotiations. It remains unclear whether the talks concern a full sale, partial stake sale, or capital raising.
Founded from the merger of two construction companies serving the religious community, Moshevet has built over 100,000 housing units and numerous community institutions across Israel. The company has historically been a significant economic pillar for the Religious Zionist sector. Previous attempts to sell Moshevet, including a 2022 negotiation to sell to "Mimushim Magshimim Potentsial" for approximately 500-510 million shekels, sparked internal opposition and legal challenges due to concerns over transparency and the absence of a public tender.
Valuations of Moshevet have been estimated at 750-800 million shekels, raising questions about whether prior offers undervalued the company. Legal disputes have also arisen over governance and document transparency. Critics demand clarity on who authorized the current US talks, the valuation process, and the intended use of any proceeds. The Hapoel HaMizrachi Federation confirmed that the recent US trip was a private vacation, with participation in a New York housing fair aimed at attracting diaspora Jewish buyers.
The Federation is reportedly considering restructuring Moshevet's ownership to better serve the Religious Zionist community. Moshevet's leadership emphasizes the company's 90-year legacy and ongoing contributions to housing for the national-religious public. Given Moshevet's public and historic significance, stakeholders expect transparent communication about any ownership changes or investment deals moving forward.