What Blue Square Real Estate does

Blue Square Real Estate Ltd. (BSRE) is a publicly traded Israeli real estate company headquartered at the Azrieli Center in Tel Aviv, operating as part of the Alon Blue Square Israel Ltd. group of companies and listed on the Tel Aviv Stock Exchange under the ticker BSRE, with inclusion in the TA-125, TA-90, and (effective November 2025) TA-Real Estate 35 indices. The company manages a portfolio of income-producing real estate assets valued at approximately 9.5 billion NIS, comprising 117 properties spanning roughly 525,000 SQM of lettable area across Israel's primary demand corridors (Tel Aviv, Jerusalem, Haifa, Ra'anana, Netanya, Petah Tikva), with a reported 93% occupancy rate and equity of 4.2 billion NIS supporting a low-leverage balance sheet.

The commercial portfolio includes shopping malls (TLV Mall, Hadar Mall), office towers (Migdal Alon Tower, Global Tower), neighborhood retail centers, logistics and distribution centers (Kibbutz Ayal, Beer Tuvia, Kibbutz Einat), supermarket spaces, and parking facilities. The residential arm focuses on urban renewal and mixed-use developments — with a pipeline of approximately 12,000 residential units across 20+ sites including the &EAST project (390 units, Tel Aviv), the Wholesale Market / Hashuk Hasitonai (776 units, Tel Aviv, with Gindi Investments), and Hadar Mall Jerusalem (750 units, with Clal Insurance). The company makes money primarily through recurring rental income from the income-producing portfolio, supplemented by one-time residential unit sales and property management fees, with no public pricing list as transactions are individually negotiated.

Go-to-market combines direct B2B leasing for commercial tenants, B2C direct sales for residential units through on-site sales centers, and ongoing property management operations. Marketing channels are limited to the corporate website (bsre.co.il), social media (LinkedIn, Instagram, Facebook), investor relations presentations, and a content magazine covering urban development trends. The company's signature differentiation is its integrated mixed-use development approach combining retail, office, and residential within self-sustaining urban communities.

Name

Blue Square Real Estate

Legal name

Blue Square Real Estate Ltd.

Website

https://bsre.co.il

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Blue Square Real Estate is a publicly traded Israeli real estate company managing 117 income-producing commercial properties (malls, offices, logistics) valued at ~9.5B NIS and developing a 12,000-unit urban renewal and mixed-use residential pipeline across Israel's major cities.

Ownership category

akta.pro rank

Headquarters

HQ city

Tel Aviv-yafo

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Supply Chain, Others

Revenue model

1. Commercial Property Rental Income: Rental revenue from income-producing commercial properties including shopping malls, office towers, neighborhood retail centers, logistics centers, supermarkets, and parking lots. The company reports approximately 93% occupancy rate across its portfolio.
2. Residential Property Sales: Sales revenue from residential development projects including new construction, urban renewal projects, and mixed-use developments across Israel.
3. Property Management Services: Property management fees from operating malls, commercial centers, and parking facilities.
4. Urban Renewal Projects: Revenue from large-scale urban renewal and redevelopment projects combining residential and commercial spaces.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Blue Square Real Estate (BSRE) is an Israeli real estate company that develops, manages, and leases a diversified portfolio of income-producing commercial properties (shopping centers, office towers, neighborhood retail, logistics centers, supermarkets, and parking facilities) while also developing residential projects, urban renewal initiatives, and mixed-use complexes across Israel. The company holds approximately 117 income-producing properties spanning 525,000 SQM with a 93% occupancy rate and a total asset value of about 9.5 billion NIS. BSRE is publicly traded on the Tel Aviv Stock Exchange under ticker BSRE and is included in the TA-125 and TA-90 indices.

Product overview

Blue Square Real Estate (BSRE) is a leading Israeli real estate company managing a portfolio of income-producing assets valued at approximately 9.5 billion NIS, with 117 properties spanning approximately 525,000 SQM. The company operates two main business divisions: Commercial Properties (income-producing) and Residential Development. The Commercial division includes Shopping Centers (TLV Mall, Hadar Mall), Office Buildings (Migdal Alon Tower, Global Tower), Neighborhood Retail, Logistics Centers, Supermarkets, and Parking Lots. The Residential division focuses on Urban Renewal projects (12,000+ projected units across 20+ sites) and flagship mixed-use developments like &EAST (390 units) and The Wholesale Market (776 units), which integrate residential towers with retail commerce and community facilities. The company is listed on the TA-125 and TA-90 indices and trades under ticker BSRE (1098565).

Differentiator

Problem solved

Functional benefit

Products and services

• Shopping Centers (Malls) Shopping malls and retail centers managed by BSRE, including TLV Mall in Tel Aviv and Hadar Mall in Jerusalem, serving as high-traffic commercial destinations in prime Israeli locations.
• Office Buildings Office tower properties including Migdal Alon Tower in Ra'anana and Global Tower in Petah Tikva, providing commercial office space in strategic business districts.
• Neighborhood Retail Commerce Neighborhood commercial centers and retail spaces providing everyday shopping and services to local communities, integrated into mixed-use developments.
• Logistics Centers Modern logistics and distribution centers including facilities at Kibbutz Ayal (41,450 SQM), Beer Tuvia (23,695 SQM), and Kibbutz Einat (13,726 SQM), supporting e-commerce and supply chain operations with advanced automation systems.
• Supermarkets Retail supermarket spaces integrated within BSRE commercial properties, providing essential daily goods services to property visitors and local communities.
• Parking Lots Parking facilities serving commercial centers and office buildings, including locations at TLV Mall, Givon Parking in Tel Aviv, and Comverse House in Ra'anana.
• Urban Renewal Projects Large-scale urban renewal initiatives including projects in Rishon Lezion, Jerusalem, Haifa, Netanya, and other cities, with projected construction of approximately 12,000 new residential units across more than 20 development sites.
• &EAST Mixed-Use Development A 390-unit mixed-use development on Tozeret Haaretz Street in Tel Aviv featuring two towers (40 and 34 stories) combining residential, office, and retail spaces with 32,000 SQM of commercial space across 75,000 SQM built area.
• The Wholesale Market (Hashuk Hasitonai) An 11-tower residential complex with 776 apartments at Hahashmonaim 92, Tel Aviv, featuring 32,000 SQM of retail space, a 14-dunum green park, primary school, kindergartens, and municipal sports center.
• Mount Scopus Campus A 20,000 SQM business campus on the historic Mount Scopus site in Jerusalem, offering panoramic views and proximity to planned light rail transit.
• Hadar Mall Jerusalem A 750-unit residential project at General Pierre Koenig 26 in Jerusalem's Talpiot area, developed in partnership with Clal Insurance, combining housing with preserved commercial spaces near the light rail line.

Quantifiable outcome

• 93% occupancy rate across income-producing properties
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Gindi InvestmentscoreStrategic or Co-development Partner50% partnership in the Wholesale Market (Hashuk Hasitonai) project in Tel Aviv, a major mixed-use urban development with 11 residential towers and 776 apartments alongside commercial space.
• Clal Insurance CompanycoreStrategic or Co-development PartnerPartnership with Clal Insurance for the Hadar Mall Jerusalem urban renewal project (750 residential units), combining real estate development with insurance company's real estate assets.
• TidharcoreStrategic or Co-development PartnerPartnership with Tidhar construction company for &EAST project in Tel Aviv - a major mixed-use development with 390 residential units.
• Superin GroupminorStrategic or Co-development PartnerJoint development partner for &EAST project in Tel Aviv.
• Weiss GroupminorStrategic or Co-development PartnerJoint development partner for &EAST project in Tel Aviv.
• GF Real EstateminorStrategic or Co-development PartnerJoint development partner for &EAST project in Tel Aviv.
• BalthoffminorStrategic or Co-development PartnerJoint development partner for &EAST project in Tel Aviv.
• Amiron Shefa Ltd.coreStrategic or Co-development PartnerPartnership for Shefa Bnei Brak urban renewal project (402 residential units, 10 buildings) in the center of Bnei Brak.
• Kidmat Yovel CompanyminorStrategic or Co-development PartnerPartnership for Yoav Haifa urban renewal project (700 residential units).
• KTV Noam Sahar Ltd.minorStrategic or Co-development PartnerPartnership for Bat Galim Haifa urban renewal project.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sella Capital Real Estate: Israeli real estate investment and development company listed on TASE. Comparable as a domestic commercial and residential developer/investor serving similar end markets.
• Azrieli Group: One of Israel's largest publicly traded real estate companies, operating shopping malls, office towers, and residential developments across the country. Directly comparable to BSRE across income-producing commercial assets and mixed-use development strategy.
• Melisron: Israeli real estate company focused on shopping centers, offices, and residential development with a major mall portfolio (e.g., Ramat Aviv Mall). Closely comparable in commercial retail concentration and urban development pipeline.
• Amot Investments: Public Israeli REIT specializing in income-producing commercial real estate including offices, retail, and logistics. Comparable to BSRE's commercial portfolio composition and listed-equity investor base on TASE.
• Big Shopping Centers: Israeli shopping mall operator and real estate developer with a portfolio of large retail centers. Comparable on retail asset concentration and development of neighborhood and regional malls.
• Gazit-Globe: Global urban real estate company headquartered in Israel with a focus on grocery-anchored shopping centers. Comparable on retail real estate strategy and Israeli operations.
• REIT 1: Public Israeli REIT holding income-producing commercial properties across retail, office, and industrial segments. Comparable in portfolio composition and TASE-listed equity exposure.
• Property & Building Corporation (PBC): Israeli real estate company engaged in development, leasing, and management of office, retail, and residential properties domestically and abroad. Comparable on diversified commercial/residential mix and TASE listing.

Regional players

• Israel Land Development Company (ILDC): Israeli real estate developer active in residential and commercial projects. Comparable on Israeli-focused residential and commercial development activity.

Broad incumbents

• Egged Holdings: Diversified Israeli conglomerate with real estate activities including commercial and mixed-use developments. Comparable as a broader Israeli incumbent with adjacent real estate exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BLUE.SQUARE.REAL.ESTATE
• LinkedInlinkedin.com/company/bsre-%D7%A8%D7%91%D7%95%D7%A2-%D7%9B%D7%97%D7%95%D7%9C-%D7%A0%D7%93%D7%9C-%D7%9F
• Instagraminstagram.com/bsre_il

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Blue Square Real Estate