Menachem Oren's Oranim to go public: 600 million NIS bond issuance for flagship project
Real estate company Oranim is entering the stock exchange to raise approximately 600 million shekels through a bond issuance for its "Oranim al HaYam" project in Rishon LeZion.
The real estate company Oranim, which built the Royal Beach Hotel in Tel Aviv, is coming to the stock exchange to issue its "Oranim al HaYam" project. The project, currently under construction on the Rishon LeZion coastline, includes 250 luxury apartments intended for residents aged 60 and over.
Oranim al HaYam will raise approximately 600 million shekels through bonds and will not issue shares. This fundraising is intended to replace the project's existing bank financing. Discount Underwriting will lead the issuance.
Oranim was founded by veteran real estate developer Menachem Oren, who operated under the radar for years. Oren lived for years near Nochi Dankner in Herzliya Pituach and built mainly luxury apartments along the Tel Aviv coastline, including on HaYarkon Street. He sold these units to various clients, including oligarchs such as Valery Kogan.
Oranim purchased the beachfront land in Rishon LeZion in 2017 for 200 million shekels. The site spans 12 dunams, and the company is currently developing its flagship project, "Oranim al HaYam," on the property. Oranim is currently managed by the founder's daughter, Shira Oren-Nachmias.
