BIG Fashion Glilot Center Remains Financially Opaque Despite Being Key Asset
BIG Fashion Glilot, which opened in February 2025 with a 2 billion shekel investment and 44,000 square meters of commercial space, has quickly become a major retail hub with around 160 stores and restaurants. Despite its significance and full occupancy, BIG does not disclose separate financial figures for this center in its latest Q2 2026 report, grouping it with other new projects that collectively contributed about 7 million shekels in rental and management income. CEO Chai Galis described Glilot as the company’s "most significant" and most closely watched asset, noting average weekday visitor numbers of 25,000 and 40,000 on Saturdays, which he called "phenomenal." Early revenue estimates suggested annual income near 1.5 billion shekels.
BIG explained that Glilot is not a mortgaged asset nor classified as material under reporting rules, which is why its results are not reported separately. Meanwhile, the company’s overall Q2 revenues rose 2.5% year-over-year to approximately 690 million shekels, with net profit surging 60% to 428 million shekels. For the first half of 2026, revenues increased 4.6% to 1.37 billion shekels, although net profit declined 9% to 639 million shekels compared to the same period in 2025.
BIG is also developing a new 65,000 square meter retail center in Petah Tikva, with an estimated 2.2 billion shekel investment. A fire broke out at the construction site on August 8 due to a technical failure from heat overload, but the company expects no delay in the planned opening in the second half of 2029. By November 2024, BIG had already leased about 60% of the space to major retailers including Fox, Factory 54, Electra, Renuar, and Castro.
Among other centers disclosed in the report, BIG Ashdod showed the strongest performance with a net operating income of about 23.7 million shekels in Q2, nearly double that of BIG Fashion Nazareth. Ashdod’s average rent rose from 119 to 151 shekels per square meter monthly. In Gedera, occupancy dropped to 92% in Q2 from 96% in 2025, but rental income improved with average rents increasing from 87 to 103 shekels per square meter, and new contracts reaching 129 shekels per square meter.
