Azrieli Group

What Azrieli Group does

Azrieli Group is Israel's largest diversified real estate company, founded by David Azrieli in 1983 (with operations dating to his first Israeli shopping mall in 1985) and publicly listed on the Tel Aviv Stock Exchange (TLV: AZRG) since 2010. The company develops, owns, and self-manages 1.4 million square meters of income-producing property across six segments: shopping malls and retail centers (27% of portfolio), offices in Israel and the US (46% and 17% respectively), senior housing under the Palace brand (8%), rental housing under Azrieli Town (2%), hotels, and data centers operated through its wholly-owned Norwegian subsidiary Green Mountain (acquired in 2021, ~18% of total portfolio value). Operations span Israel, the US, Norway, Germany, and the UK, with 5 million monthly visitors to its properties and an annual NOI of 2.6 billion NIS against a 50.63 billion NIS total capitalization.

The business model is fundamentally a real estate leasing and development platform: Azrieli acquires prime-location land, develops mixed-use properties (most notably the iconic Azrieli Center Tel Aviv and the forthcoming Spiral Tower, set to be Israel's tallest building), and leases space to retail, office, and senior housing tenants under multi-year agreements. The Green Mountain subsidiary generates recurring revenue by providing colocation and data center capacity to the world's largest cloud computing companies across Norway, Germany, and the UK. Ancillary revenue streams include long-term rental housing, hotel operations (Mount Zion Hotel Jerusalem, Azrieli Modi'in), and dividends to public shareholders (6.83 NIS per share declared March 2026). The company is family-controlled (Azrieli Holding 55.62%, Azrieli Foundation Canada 8.55%, Azrieli Foundation Israel 5.69%, public float ~30%) and recently transitioned leadership with Danna Azrieli appointed CEO in February/March 2026.

The go-to-market is direct B2B leasing of physical space — there is no consumer product or software distribution layer. The company's distribution advantage rests on owning the largest portfolio of prime, transit-accessible Israeli real estate, drawing 5 million monthly visitors and supporting high occupancy. As of mid-2026, the stock traded at 40,680 NIS per share, the company holds investment-grade ratings (S&P Maalot ilAA+, Midroog Aa1.il), is included in the Cohen & Steers GRM and IRP indexes, and is executing a 1 million sqm development pipeline across 17 projects anchored by the Spiral Tower and Azrieli Holon 3.

Name

Azrieli Group

Legal name

Azrieli Group Ltd.

Website

http://www.azrieligroup.com/

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

251–500 employees

Short description

Azrieli Group is Israel's largest diversified real estate company, developing and self-managing 1.4 million sqm of income-producing property across malls, offices, senior housing, rental housing, hotels, and Green Mountain data centers in Israel, the US, and Europe, serving retail tenants, corporate occupiers, hyperscalers, and residents.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Real Estate (5311), Lessors of Other Real Estate Property (53119), Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Lessors Of Real Property, Nec (6519), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH), Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Commercial real estate
• Shopping mall development
• Office property leasing
• Data center services
• Senior housing facilities

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Property Leasing: Primary revenue from leasing shopping malls, retail centers, office buildings and business centers to tenants. Income-producing properties primarily in Israel with additional holdings in the US.
2. Senior Housing: Revenue from four senior homes offering independent living, medical and assisted living facilities.
3. Data Center Services: Revenue from data center operations through Green Mountain platform providing services to major cloud computing companies in Norway, Germany and UK.
4. Rental Housing: Long-term rental housing at Azrieli Town Tel Aviv and Azrieli Center Modi'in locations.
5. Hotels: Revenue from hotel operations including Mount Zion Hotel in Jerusalem and hotels within mixed-use developments.
6. Dividend Distributions: Regular dividend distributions to shareholders, with 6.83 NIS per share declared in March 2026.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Azrieli Group develops, owns, leases, and manages a diversified portfolio of income-producing real estate assets across Israel, the US, and Europe. Core segments include shopping malls and retail centers (27% of portfolio), office buildings (46%), senior housing under the Palace brand (8%), data centers through the Green Mountain subsidiary (18%), long-term rental housing via Azrieli Town (2%), and hotels. The portfolio spans 1.4 million sqm of gross leasable area with approximately 1 million sqm of additional space under development.

Product overview

Azrieli Group is Israel's leading diversified real estate company operating multiple interconnected property segments: shopping malls and retail centers (27% of portfolio), office buildings and business centers (46%, including 17% overseas in the US), senior housing (8%), rental housing (2%), data centers (18%), and hotels. The Group owns and manages approximately 1.4 million sqm of income-producing properties primarily in Israel, with additional assets in the US. The portfolio includes established properties generating annual NOI of approximately 2.6 billion NIS, plus a development pipeline of approximately 1 million sqm spanning projects like the Spiral Tower (Israel's tallest building) and Azrieli Holon 3 (Israel's largest office project). Data center operations through Green Mountain subsidiary span Norway, Germany, and UK, serving major cloud providers. All properties are self-managed, enabling consistent Azrieli-standard operations.

Differentiator

Problem solved

Functional benefit

Brands

• Palace: Senior housing brand offering independent living with medical and assisted living facilities. Four Palace senior homes in Israel.
• Azrieli Town
• Green Mountain
• Point by Azrieli
• Azrieli E-Town

Products and services

• Azrieli Malls and Shopping Centers Shopping malls and retail centers developed, acquired, leased, managed and operated by Azrieli Group across Israel. Management services are provided directly or through Group-owned management companies at international standards.
• Azrieli Offices and Business Centers Office towers and business centers spanning development, acquisition, leasing, management and maintenance. Many income-producing properties are multi-use projects integrating retail space and offices, populated by leading local and global companies.
• Palace Senior Housing

Quantifiable outcome

• Record annual performance in 2025
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Green MountaincoreStrategic or Co-development Partner · 1 January 2021Green Mountain is a Norwegian data center company that Azrieli Group acquired full ownership of in 2021. It provides services to the world's largest cloud computing companies and operates data centers in Norway, Germany, and UK. The company is a wholly-owned subsidiary and core to Azrieli's expansion into digital infrastructure.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Simon Property Group: US-listed mall REIT and the global benchmark for shopping center ownership and management. Directly comparable to Azrieli's 27% malls & retail centers segment, including leasing model, anchor tenant strategy, and mixed-use integration with office towers.
• Boston Properties: US office REIT focused on premier urban office towers in NYC, San Francisco, Boston and Washington DC. Direct comparable for Azrieli's 46% Israel offices + 17% US offices portfolio, particularly the premium-location, transit-accessible positioning of the Tel Aviv portfolio.
• Iron Mountain: US-listed data center and storage REIT with colocation and hyperscale offerings across the US, Europe and Asia-Pacific. Directly comparable to Azrieli's Green Mountain platform in Norway, Germany and the UK serving the world's largest cloud computing companies.
• Digital Realty Trust: Global hyperscale and colocation data center REIT operating in the Americas, EMEA and APAC. Comparable to Green Mountain on customer profile (major cloud providers), European footprint, and large-campus build-to-suit economics.
• Welltower: Largest US healthcare REIT focused on senior housing operating, outpatient medical and post-acute care. Closest pure-play peer for Azrieli's Palace senior housing brand (four senior homes with independent, medical and assisted living).
• Equity Residential: US multifamily REIT focused on urban and high-density rental apartment communities. Directly comparable to Azrieli Town Tel Aviv and Azrieli Center Modi'in long-term rental housing in prime Israeli urban centers.
• Host Hotels & Resorts: Largest US lodging REIT focused on upscale and luxury hotels, including mixed-use developments. Comparable to Azrieli's Mount Zion Hotel Jerusalem and hotel components of the Spiral Tower and Azrieli Modi'in Center mixed-use projects.
• Vornado Realty Trust: US office and retail REIT concentrated in Manhattan. Comparable to Azrieli's premium urban office and retail strategy, including dominance in a single prime skyline (analogous to Azrieli Center Tel Aviv).

Broad incumbents

• Brookfield Property Partners: Global diversified real estate owner-operator with office, retail, multifamily, hospitality, logistics and data center exposure through Brookfield Asset Management. Closest large-scale analog to Azrieli's multi-segment, multi-geography strategy.
• Unibail-Rodamco-Westfield: European-listed flagship retail and mixed-use REIT with destination shopping centers and office assets across continental Europe. Comparable on European footprint diversification and on the premium-mall positioning that mirrors Azrieli's retail centers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/azrieli-group
• Instagraminstagram.com/azrieligroup/?igshid=YmMyMTA2M2Y=

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azrieli Group