Melisron

Melisron launched a CEO search following the tragic passing of Ofir Sarid. Liora Ofer approached Mizrahi Tefahot CEO Moshe Larry, while former Azrieli Group CEO Ron Avidan emerges as another leading candidate.

The SPACE fitness group is investing 7 million shekels to open its 40th branch in Ness Ziona. Spanning 1,200 square meters at the Kanyoter mall, the club is part of an aggressive nationwide expansion strategy.

Ofir Sarid, former CEO of Israeli real estate giant Melisron, has passed away at 54 after a severe illness. During his tenure, he successfully steered the company through the COVID-19 pandemic and expanded into residential real estate.

Kanyon HaZahav in Rishon LeZion has opened its new 12,000-sqm Platinum Floor for 100 million shekels, making it Israel's largest mall at 122,000 square meters following full acquisition by Migdal.

Melisron CEO Ofir Sarid is stepping down from his role on September 24, 2026, for medical reasons. CFO Oren Heilinger will serve as interim CEO during the search.

In search of new growth engines, Azrieli and Melisron are becoming dominant residential developers. Sales and the backlog are growing, but the industry warns that it is too early to determine if the move will yield the desired return.

As Globes has learned, the mall giant has purchased land zoned for residential and hotel use, and is working to rezone it for the construction of a 35,000 sqm mall. The company identified a shortage of a significant regional mall in Jerusalem that would compete with Azrieli's Malha Mall, which includes about 44,000 sqm.

Revenues in the malls held by Melisron rose by approximately 11% in the second quarter of 2026, following a 5% decline in the previous quarter due to the impact of Operation "Lion's Roar." Since the start of marketing in May, the company has sold 56 apartments in the PARK 51 project in Herzliya.

Melisron released its Q2 2026 financial results, showing an 11% increase in tenant revenues and a major contract with Nvidia. The company's representative annual NOI is projected to reach 1.82 billion shekels.