Kardan Real Estate

What Kardan Real Estate does

Kardan Real Estate (קרדן נדל"ן) is an Israeli residential real estate developer founded in 1988, headquartered in Tel Aviv at Menachem Begin 154. The company engages in initiation, planning, development, and construction of residential housing projects across Israel, with thousands of housing units delivered nationwide spanning cities including Jerusalem, Tel Aviv, Ramat Gan, Bat Yam, Netanya, Haifa, Holon, Hadera, Kiryat Motzkin, and Nahariya. Its product portfolio includes luxury high-rise apartments (2-6 rooms, mini penthouses, and full penthouses) and a dedicated urban renewal division handling Tama 38 / Pinui Binui demolition and reconstruction of aging 1950s-60s buildings, with thousands of units in its urban renewal pipeline. The company operates a vertically integrated model through its wholly-owned construction subsidiary El-Har Engineering, which performs execution work, providing cost control and quality assurance, and supports a digital tenant management platform called Home ConneX.

The business model is primarily project-based residential property sales, with revenue recognized upon apartment delivery to individual buyers, augmented by urban renewal project revenue and construction execution services. Distribution is executed through company-owned sales offices in five Israeli cities plus a *9199 short code, website inquiry forms, WhatsApp, and email marketing. The company reports publicly on the Tel Aviv Stock Exchange (ticker: KARE) and is led by CEO Amos Dabush, Board Chairperson Ayelet Shaked, and Deputy CEO/CFO Ayelet Nayim Lebanon. Provided financial data shows revenue declining from $620M (2022) to $485M (2025), with EBITDA compressing from $178M to $66M and net income falling from $120M to $24M over the same period, indicating a materially deteriorating operating profile.

Name

Kardan Real Estate

Legal name

Kardan Real Estate

Website

https://kardan-nadlan.co.il

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Kardan Real Estate is an Israeli residential real estate developer founded in 1988 that initiates, plans, and constructs apartment projects and urban renewal developments across Israel for individual homebuyers, supported by its wholly-owned construction subsidiary El-Har Engineering.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), New Multifamily Housing Construction (except For-Sale Builders) (236116), Land Subdivision (23721)

SIC

Operators Of Apartment Buildings (6513), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE), Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Residential property development
• Urban renewal projects
• Housing construction
• Apartment development
• Real estate construction

Headquarters

HQ city

Tel Aviv-yafo

HQ country

Israel

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Property Sales: Sale of residential apartments and units in developer-built projects across Israel. Revenue recognized upon apartment delivery to buyers.
2. Urban Renewal Projects: Demolition and reconstruction of aging buildings through urban renewal (Tama 38 / Pinui Binui), generating revenue from new residential unit sales.
3. Construction Services: Construction execution services provided through subsidiary company El-Har Engineering for Kardan's own projects and potentially external clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Kardan Real Estate develops, plans, and constructs residential housing projects across Israel, including multi-tower apartment complexes offering 2-6 room apartments, mini penthouses, and penthouses. The company operates a vertically integrated model with its wholly-owned construction subsidiary El-Har Engineering performing all construction work. It also manages urban renewal projects (Tama 38 / Pinui Binui) involving demolition and reconstruction of aging 1950s-60s buildings, serving individual homebuyers and tenants across major Israeli cities through direct sales offices in five locations.

Product overview

Kardan Real Estate is a leading Israeli real estate development company founded in 1988, operating as a unified residential development platform with multiple project types and supporting services. The company's core offering consists of residential development projects across Israel (including Bat Yam - Park Hayam ISLAND, Migdaley U, Netanya ALIVE, Ramat Gan Uziel, Jerusalem Holyland, Tel Aviv Kiryat Shaul), complemented by an Urban Renewal division handling demolition and reconstruction of aging buildings, a construction subsidiary (El-Har Engineering), and a digital tenant management platform (Home ConneX). Projects span various cities including Jerusalem, Tel Aviv, Ramat Gan, Netanya, Bat Yam, Haifa, and others, offering apartments ranging from 2-6 rooms, mini penthouses, and full penthouses.

Differentiator

Problem solved

Functional benefit

Products and services

• Urban Renewal (התחדשות עירונית) Demolition and reconstruction of aging 1950s-60s buildings through Tama 38/Pinui Binui urban renewal programs, replacing them with modern residential complexes featuring protected rooms (mamad), new facilities, and shared public spaces. The company manages the entire process from tenant coordination through demolition and new construction delivery. Serves tenants and property owners in aging Israeli buildings across cities including Holon, Haifa, Netanya, Jerusalem, Hadera, Ramat Gan, and Rishon LeZion.
• El-Har Construction Services (חברת הביצוע אלהר) Subsidiary construction company providing construction execution services for Kardan's own real estate development projects. Wholly-owned subsidiary providing quality control, operational flexibility, and execution capability for residential and urban renewal projects. Vertical integration cited as a key competitive advantage enabling project delivery.
• Bat Yam - Park Hayam ISLAND (בת ים - פארק הים ISLAND) Two 20-floor towers with 160 residential units located near Park Hayam (Sea Park) in Bat Yam. Features include club amenities, parking, and storage for each unit. Currently in active sales/marketing phase targeting individual homebuyers and investors.
• Migdaley U - Bat Yam (מגדלי U - בת ים) Two 31-floor towers with 300 residential units featuring 3-5 room apartments, mini penthouses, and penthouses above a commercial and leisure complex in Bat Yam. Designed as a new landmark for the city. Currently in active sales/marketing phase.
• Netanya - ALIVE (נתניה – ALIVE) 32-floor luxury residential tower with 117 units offering 4-5 room apartments, mini penthouses, and penthouses. Located in Netanya's Park Hayam neighborhood near the sea and park. Currently in active sales/marketing phase.
• Ramat Gan - Uziel (רמת גן - עוזיאל) Mixed-use project combining a luxury tower with boutique buildings in Ramat Gan at Uziel 13-15. Total of 152 units with 9 floors plus a 20-floor tower, offering 2-5 room apartments, mini penthouses, and penthouses with balconies overlooking Gush Dan. Currently under construction.
• Jerusalem - Holyland (ירושלים - הולילנד) 31-floor premium residential complex with 153 units featuring 3-6 room apartments and penthouses located at Avraham Ferera 1, Jerusalem. Luxury amenities include concierge service, gym, and garden. 3-room apartments starting from 3,660,000 ILS. Currently under construction.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

One partnership is on record.

• El-Har Engineering (אל-הר הנדסה)coreStrategic or Co-development PartnerEl-Har Engineering is a wholly-owned subsidiary construction company that performs all construction work for Kardan's development projects. This vertical integration provides quality control, operational flexibility, and competitive advantage in project execution. The company's construction capabilities are cited as a key strength enabling project delivery and urban renewal execution.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Property & Building Corporation (PBC): Diversified Israeli real estate company with significant residential and commercial development activity. Comparable in residential project portfolio and exposure to Israeli real estate cycles.
• Shikun & Binui: Israel's largest construction and real estate group, active in residential development, urban renewal, and infrastructure. Directly comparable for residential development and urban renewal (Pinui Binui) activity in Israel.
• Amot Investments: Israeli real estate company focused on income-producing office, retail, and residential properties. Comparable as a publicly listed Israeli real estate operator, though more weighted toward commercial and yield-producing assets.
• Tidhar Group: One of Israel's largest private residential developers, active in urban renewal, multi-family construction, and apartment sales across multiple Israeli cities. Closely comparable to Kardan in product mix, target market, and urban renewal focus.
• Africa Israel Properties: Long-standing Israeli real estate developer with residential and commercial projects in major cities. Comparable in Israeli residential development focus and urban renewal activity.
• Azrieli Group: Major Israeli real estate company developing residential, commercial, and retail properties. Comparable as a publicly listed Israeli developer with residential project exposure, though its portfolio is significantly more diversified.
• Melisron: Israeli real estate company with significant residential and commercial portfolio. Comparable as a Tel Aviv-based, publicly listed Israeli real estate operator with mixed residential exposure.
• Electra Real Estate: Israeli real estate arm of the Electra Group, active in residential and commercial development. Comparable for residential for-sale apartment projects in Israel.

Emerging players

• Gindi Holdings: Israeli real estate developer focused on residential and urban renewal projects in central Israel. Comparable for urban renewal (Pinui Binui) activity and mid-rise residential development.
• RFR Group: Israeli real estate group engaged in residential and commercial property development. Comparable as an Israeli developer active in urban renewal and apartment sales.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kardan-nadlan

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Kardan Real Estate