"We Will Earn More Outside": Gindi Family Parts with Golden Mall at a Value Significantly Lower Than Competitors
Migdal is removing the Gindi brothers from the Golden Mall in Rishon LeZion, in a deal reflecting a value of NIS 2 billion • Moshe Gindi: "We will return to the construction business. We can…
Assessment
The Gindi brothers are exiting Golden Mall in Rishon LeZion at a valuation of two billion shekels, a price notably lower than what competitors are achieving. Migdal is executing the transaction, while the Gindis signal a strategic pivot back to their core construction business, suggesting higher profit potential there. All eyes are now on the antitrust commissioner's pending decision on Melisron's purchase of half the mall, which could reshape ownership dynamics in Israeli retail real estate.