Delek Properties Signs Zol Stock for New Katzrin Commercial Center

Delek Properties has announced a new lease agreement with the discount retail chain Zol Stock to open a 750-square-meter store at a commercial center currently under construction in Katzrin. The project, slated to open in the second half of 2028, is being developed in a 50-50 partnership with Erezim Mei Marom.

This latest agreement follows a previous lease signed with the Shuk HaHerzel supermarket chain, which secured 2,500 square meters at the complex. With these two deals, approximately 3,250 square meters—or 65% of the total 5,000 square meters of planned commercial space—have already been rented out prior to completion.

The new commercial center is being built on a 20-dunam plot at the main entrance to Katzrin, adjacent to the local council building, government offices, and student dormitories. Delek Properties acquired a 50% stake in the land in 2024. Construction work is already underway, and the partners continue negotiations with additional retail brands to fill the remaining spaces.

Omer Tsalisher, VP of Assets and Marketing at Delek Properties, highlighted the significance of the new agreements.

"The signing with Zol Stock, alongside the agreement with Shuk HaHerzel, marks a significant step in the progress of the commercial center in Katzrin and the completion of its tenant mix. The fact that a retail chain already familiar with the local market chooses to establish a large-scale store in the new complex reinforces the potential we see in the project."

Tsalisher added that the Katzrin project is part of Delek Properties' broader expansion strategy in northern Israel and nationwide. The company currently holds a portfolio of around 70 properties, with approximately 30 projects undergoing development, construction, and value enhancement to drive future net operating income (NOI) growth.