Rani Zim with a 51% jump: surprising data revealed
The company "Rani Zim Shopping Centers" concludes the first half of 2026 with an increase in NOI and FFO, alongside the expansion of operations into the fields of energy, logistics, and data centers.
The company "Rani Zim Shopping Centers" has published its financial results for the second quarter and the first half of 2026, showing continued growth in operations, progress in new projects, and the expansion of revenue sources.
In the second quarter, the Net Operating Income (NOI) totaled approximately 29.1 million shekels, an increase of about 18% compared to the corresponding period. The FFO rose by about 15% to reach 9.1 million shekels. Revenues from rent and management grew by about 19.3% to 42 million shekels, while revenues including logistics operations reached approximately 44.6 million shekels. The NOI from identical assets rose by about 4.9% to 25.5 million shekels.
During the quarter, an appreciation of about 43.3 million shekels was recorded in investment real estate. Net profit totaled 19 million shekels, compared to about 29 million shekels in the corresponding quarter last year, which included a one-time profit from asset revaluation.
In the first half of the year, the NOI totaled 57.8 million shekels, an increase of about 17%, while the FFO jumped by about 51.6% to 15.9 million shekels. Revenues from rent and management grew by about 17.5% to 80.8 million shekels, and the NOI from identical assets rose by about 4.5% to 50.8 million shekels. Net profit for the first half of the year rose by about 20% to 20.1 million shekels. Equity reached approximately 997.7 million shekels, representing about 27.8% of the total balance sheet.
Parallel to these results, the company continues to promote several strategic moves. Rani Zim increased its stake in the Bekat Ono project to 100%, with the project now in the occupancy stage. In Kfar Saba, a "Form 4" (occupancy permit) was received for commercial and logistics areas, and a memorandum of understanding was signed with an international technology corporation to provide hosting services in server farms.
The company also continues to expand existing centers. Upgrade works at the Dead Sea Mall are ongoing, expansion works in Umm al-Fahm have begun, and further expansions are expected in Tira and Ganei Tikva. Additionally, construction of the project in Daliyat al-Karmel is expected to begin, while the project in Rosh HaAyin is slated for completion in the first half of 2027.
Another field of expansion is energy. The subsidiary "Rani Zim Renewable Energy" is promoting the establishment of storage farms and generation facilities, with the first storage facility expected to start operating in early September 2026. The company expects this field to generate additional revenues and profits in the future.
This activity reflects a shift in strategy, moving beyond commercial centers. Alongside operations in the Arab sector and the periphery, the company is promoting investments in infrastructure and technology, including data centers and renewable energy.
Forecasts have been updated: the NOI forecast for 2026 was reduced to 142 million shekels, largely due to the security situation, while the 2027 forecast remains unchanged. Conversely, the NOI forecast for 2028 was raised to 234 million shekels. The FFO forecast for 2026 now stands at 38.5 million shekels.
The acquisition of full rights in the Bekat Ono project for 105 million shekels highlights the company's desire to increase control over assets in high-demand areas in the center of the country, parallel to continued expansion in the periphery and the Arab sector.
