YBOX Appoints New CEO Gadi Ben Haim and Targets 190 Million Shekels Raise
YBOX appointed former Harel executive Gadi Ben Haim as its new CEO and announced a rights offering aiming to raise up to 190 million shekels to bolster equity and project execution.
YBOX Real Estate has announced significant leadership changes alongside a major capital-raising initiative. The company's board of directors approved the appointment of Gadi Ben Haim, former head of real estate at Harel Insurance & Finance, as the new chief executive officer. The appointment remains subject to general meeting approval. Following the transition, controlling shareholder Tzahi Abu is expected to return to his role as chairman after temporarily serving as CEO.
Ben Haim, 57, brings over 30 years of extensive experience in the real estate sector, spanning local and international development, financing, and management. His previous professional background includes serving as a real estate attorney, heading the real estate division at Harel, and acting as a strategic advisor for major institutional entities guiding investments both domestically and abroad.
In parallel with the executive restructuring, YBOX published a shelf offering prospectus aimed at raising up to 190 million shekels. The board approved a rights offering of up to 47.6 percent of the company's fully diluted share capital, priced at 0.57 shekels per share—representing a 10.5 percent discount on the previous closing price. This marks the first major capital raise under the joint control of Gefen Magurim and Tzahi Abu.
Commenting on the strategic steps, controlling shareholder Tzahi Abu stated: "We believe that the appointment of Gadi Ben Haim as the new CEO will significantly strengthen our ability to advance major company operations and execute our high-quality project backlog. Alongside this, we are preparing to strengthen our equity and financing capabilities through a rights issue, while implementing comprehensive streamlining measures to cut general and administrative expenses."
Additionally, the company addressed recent media reports regarding the Tel Aviv District Planning and Building Committee's decision on the Beit Romano-Gat Rimon urban plan. YBOX clarified that no formal official decision has yet been received, with approval anticipated by the end of the year. According to the plan, Beit Romano properties are slated to transfer to the Tel Aviv Municipality in exchange for expanded residential and commercial rights across the Gat Rimon, Beit Brin, and Hassan Arafa projects.
According to its financial reports for the first half of the year, YBOX holds equity totaling approximately 424 million shekels, with total asset value reaching roughly 1.6 billion shekels at the end of 2025. The company's portfolio encompasses 44 projects totaling approximately 5,429 residential units, with the company's share representing 2,544 units.
