Shufersal Real Estate Wins Tender for Commercial Center Near Negev Base
Shufersal's real estate arm, Laro, won an ILA tender for 20 dunams near Ir HaBahadim, planning a 100 million shekel commercial center to serve travelers and soldiers.
Laro Real Estate, the real estate subsidiary of Shufersal, has won an Israel Land Authority (ILA) tender for a 20-dunam plot designated for the construction of a commercial, employment, and tourism center in the Ramat Negev Regional Council. The company will pay 25 million shekels for the land.
The plot is adjacent to the IDF Training Base City (Ir HaBahadim) and features an approved zoning plan for a commercial and employment center spanning 16,000 square meters. Shufersal will establish a commercial center there with a total investment of 100 million shekels, which will include a company supermarket alongside fashion and other stores, restaurants, and cafes.
These facilities are expected to primarily serve travelers on Route 40, leading to Mitzpe Ramon and Eilat, as well as local residents and conscript and career soldiers serving at Ir HaBahadim. Ramat Negev is the largest regional council in the country in terms of jurisdiction, and the group views the project as a strategic business opportunity in the real estate sector.
This transaction joins two acquisitions made by Shufersal Real Estate (Laro) last month: 50% of the shares in the Kurdani complex in Kiryat Motzkin acquired for 85 million shekels, raising the company's stake in the complex to 100%, and a commercial center under construction in the Havatzelet HaSharon neighborhood, spanning approximately 2,700 square meters, purchased from the Sharbat brothers for 69 million shekels, which will also include a Shufersal branch.
