Contractor David Azulay's exit: property sold for 50 million shekels

The David Azulay Group sold the commercial avenue in the STORY project in Netanya this morning for approximately 50 million shekels. The buyer is the 'Israyes 26' group, owned by Israel Dahan and Avi Sabag.

The commercial avenue, which spans approximately 2,000 square meters on the ground floor of the complex in the Gali Yam neighborhood, was purchased by Dahan, Sabag, and a group of investors. About 1,500 square meters of the area are already leased to the 'Super Tal' chain belonging to businessman Rani Zim, as well as to a boutique bakery and confectionery.

This deal reflects the high business potential of the complex; it provides the buyer with an income-generating asset with a stable cash flow based on strong anchor tenants, while the David Azulay Group unlocks capital and realizes a significant profit even before the project is occupied.

ISRAYES GROUP 26 is a leading real estate company specializing in development, management, and investment in commercial real estate. The group owns an extensive portfolio of commercial centers in collaboration with Israel's leading developers, including prominent centers in Sde Dov (Tel Aviv) with the Hagag Group, in Ramat Efal (Ramat Gan) with the Electra Group, and in Ramla and Ashkelon with Effi Capital.

The area is receiving growing interest from investors; as recently reported, businesswoman Elin Cohen purchased a luxury 5-room apartment in the project on the 19th floor, with an estimated value of over 3 million shekels.

"The sale of the commercial avenue serves as further validation of the market's trust in our projects and the economic potential of the Gali Yam neighborhood. We designed the avenue to provide a complete range of services at the highest standard. We welcome the Israyes 26 group and continue to work energetically towards the occupancy expected in the coming year," stated David Azulay.