G City

What G City does

G City Ltd. (formerly Gazit Globe; TASE: GCT) is a global real estate company that owns, develops, manages, and leases supermarket-anchored shopping centers and retail-based mixed-use properties in dense urban growth markets. Founded in 1992 and headquartered in Tel Aviv, Israel, the company operates through five regional platforms: G City Israel (12 income-producing properties, ~NIS 4.5B in value, including leading assets such as G City Rishon LeZion and G Kfar Saba), G City Europe / former Atrium (13 wholly-owned Central European properties, mainly in Warsaw, Poland), Citycon Oyj (Nordic mixed-use shopping centers in Finland, Sweden, Norway, Denmark, and Estonia; ~86.4% owned as of March 2026 following a multi-step tender offer), Gazit Horizons (17 North American properties in New York, Boston, Miami, and Tampa), and G City Brazil / Gazit Mall FII (7 properties in São Paulo). The portfolio totals approximately 85-90 income-producing properties, 1.8 million square meters of gross leasable area, and NIS 35 billion in total assets across 11 countries, with the controlling shareholder being Norstar Holdings Inc. (TASE: NSTR, 54.28% stake). Recent strategic actions include the consolidation of Citycon (mandatory and voluntary tender offers at EUR 2.90-4.00 per share in 2026), a NIS 0.5 billion joint venture with Menorah Mivtachim in Israel (December 2024), and active capital recycling (Arkady Pankrac, Bridge Tower, Flora, Russia, Turkey divestitures).

The company's underlying technology stack combines a Building Management System (BMS) platform with AI-driven energy-management software (proof of concept deployed in three G City Europe assets since 2021), on-site photovoltaic solar generation (1,100+ panels), and EV-charging infrastructure; the Lippulaiva asset in Finland holds the world's first Smart Building Gold certification. ESG is a central differentiator: 82% of properties hold BREEAM certification, with additional LEED and ILGBC certifications, and the company has held the Maala Platinum+ rating in Israel for ten consecutive years. Credit ratings of ilA-/Stable (S&P Maalot) and ilA3/Stable (Moody's) and EPRA membership support capital-markets access.

G City generates revenue from three streams: (1) recurring rental income from long-duration, indexed leases with supermarket anchors and necessity-based retail tenants across the income-producing property portfolio; (2) one-time property sales and capital recycling gains (e.g., Arkady Pankrac, Bridge Tower, Flora, and the Russian portfolio); and (3) recurring property management and leasing fees from third-party-owned and joint-venture properties, including the Menorah Mivtachim JV. GTM motions are predominantly B2B enterprise leasing with supermarket anchors and national/regional retailers across 11 countries, supplemented by direct-to-consumer property marketing and capital-markets investor-relations communications through TASE filings, ESG reports, and credit-rating publications. Pricing is not publicly disclosed; rental terms are negotiated per lease and per asset.

Name

G City

Legal name

G City Ltd.

Website

https://g-city.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

G City is a Tel Aviv-based global real estate company (TASE: GCT) that owns, develops, and manages ~85-90 supermarket-anchored shopping centers and mixed-use properties totaling 1.8 million sqm of GLA and NIS 35 billion in assets across 11 countries in Israel, North America, Brazil, and Europe.

Ownership category

akta.pro rank

Product category

Commercial Real Estate (Mixed-Use Shopping Centers)

NAICS

Real Estate and Rental and Leasing (53), Rental and Leasing Services (532)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro industry

PRIMARYTHAMAKAA

Full-Service Vacation Rental Property Management

Travel & Hospitality/Vacation Rentals & Short-Term Stays/Vacation Rental Property Management & Co-Hosting

Keywords

• Commercial real estate
• Mixed-use properties
• Shopping center management
• Retail leasing
• Property development

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Rental income from income-producing properties: Recurring rental revenue from supermarket anchors and retail/mixed-use tenants across ~85–90 income-producing properties in Israel, North America, Europe, and Brazil. Long-term leases with indexed/escalating rents.
2. Property sales and capital recycling: One-time revenue from divestitures of mature or non-core properties to recycle capital (e.g., disposals announced alongside the Citycon tender offer and other asset sales).
3. Property management and leasing fees: Management fees from third-party owned properties and joint-venture partners (e.g., Menorah Mivtachim JV on four Israeli properties), and asset management fees from real estate funds.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

G City (formerly Gazit Globe) is a global real estate company that owns, develops, manages, and leases supermarket-anchored shopping centers and retail-based mixed-use properties in urban growth markets across Israel, North America, Brazil, and Northern, Central, and Eastern Europe. The company operates approximately 85-90 income-producing properties totaling roughly 1.8 million sqm of gross leasable area with a total asset value of NIS 35 billion, organized across five regional subsidiaries (G City Israel, G City Europe, Citycon Nordic, Gazit Horizons North America, and Gazit Brazil). It delivers stable, long-duration rental cash flow from supermarket anchors and necessity retailers, complemented by mixed-use office, residential-for-rent, and development projects.

Product overview

G City (formerly Gazit Globe) is a global real estate company whose offering is a single integrated platform-plus-modules architecture organized around five regional operations and a central innovation program. The core offering consists of three real estate product categories — Office spaces (Work), Retail (mixed-use supermarket-anchored shopping centres), and Residential for rent (Live) — supplemented by Development projects redeveloped in growing urban markets. These are delivered through five regional subsidiaries / brands: G City Europe (wholly-owned subsidiary, 13 properties, Central Europe/Poland), Citycon Oyj (Nordic region subsidiary with 31 properties, ~86.4% owned), G City Israel (12 properties, headquarters), Gazit Horizons (North America, 17 properties), and G City Brazil / Gazit Mall FII (7 properties, plus Brazilian listed REIT). The G City Innovation program layers technology initiatives on top of the real estate platform, including an AI-driven Building Management System (BMS) proof of concept (2021, in 3 G City Europe assets), on-site photovoltaic renewable energy, and a Pop-up program supporting young brands. Together the platform manages approximately 90 income-producing properties spanning ~1.7-1.8 million sqm of GLA across 11 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Citycon: Northern European mixed-use shopping center brand operating in Finland, Sweden, Norway, Denmark and Estonia; 86.4%-owned subsidiary of G City.
• G City Europe
• Gazit Horizons
• Gazit Brazil
• Gazit Mall FII

Products and services

• G City Europe Wholly-owned subsidiary operating G City's Central Europe (mainly Poland) real estate portfolio, including 13 supermarket-anchored shopping centres and mixed-use properties. Acquired originally as Atrium in 2008, with the buyout completed in 2022. Invested capital: NIS 5.4 billion. CEO: Or Ackerman.
• Citycon Oyj
• G City Israel
• Gazit Horizons
• G City Brazil (Gazit Brazil)
• Gazit Mall FII
• Mixed-use retail and shopping centers
• Office spaces (Work)
• Residential for rent (Live)
• Development projects
• G City Innovation program

Quantifiable outcome

• 1.8 million sqm gross leasable area across the income-producing portfolio
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered flagship jv partner — significant capital deployment of nis 0.5b across four israeli supermarket-anchored properties; enables israeli balance-sheet expansion while retaining operating control., major capital-markets / m&a relationship — citycon is the subject of g city's eur-denominated tender offer at approximately eur 4.45 per share., core subsidiary — wholly-owned holding entity used to consolidate g city's european (nordic and central european) real-estate operations. and minor — industry membership, not a commercial partnership..

• Menorah Mivtachimflagship jv partner — significant capital deployment of nis 0.5b across four israeli supermarket-anchored properties; enables israeli balance-sheet expansion while retaining operating control.Strategic or Co-development Partner · 1 December 2024Signed agreement for Menorah Mivtachim to become a 50% partner in four G City properties in Israel for approximately NIS 0.5 billion. G City retains property management and leasing control. Reported as a major step in capital recycling and JV-led portfolio optimization in the company's primary domestic market.
• Cityconmajor capital-markets / m&a relationship — citycon is the subject of g city's eur-denominated tender offer at approximately eur 4.45 per share.Strategic or Co-development PartnerG City launched a public tender offer for Citycon, a Nordic retail real-estate company listed in Helsinki and Stockholm, at an offer price of approximately EUR 4.45 per share. The transaction is the centerpiece of G City's Nordic / Northern-European growth and capital-recycling strategy.
• Gazit Europe Netherlandscore subsidiary — wholly-owned holding entity used to consolidate g city's european (nordic and central european) real-estate operations.Strategic or Co-development PartnerWholly-owned subsidiary of G City used as the European holding and operating entity for the company's Northern and Central European shopping-center portfolio. Central to G City's European tax, governance, and asset-holding structure.
• EPRA (European Public Real Estate Association)minor — industry membership, not a commercial partnership.OthersG City is a member of EPRA, the European Public Real Estate Association, which serves as the leading industry body for European-listed real estate companies. Membership signals alignment with EPRA reporting standards and best practices.

Scale indicators5 records

Recent moves20 records

Expansion highlights6 records

Direct peers

• Wereldhave: Dutch-listed REIT focused on full-service, supermarket-anchored shopping centers in the Netherlands, Belgium, and France. Closely aligned with G City's necessity-based, mixed-use urban thesis and offers a comparable smaller-cap European peer benchmark.
• Regency Centers: US grocery-anchored shopping-center REIT. Directly comparable to G City's supermarket-anchored, necessity-based retail thesis; formed via the 2017 Equity One / Regency merger, a G City historical transaction.
• Citycon Oyj: Nordic mixed-use shopping-center owner and developer (Finland, Sweden, Norway, Denmark, Estonia), ~86.4%-owned by G City. Despite the ownership linkage, it remains an independently listed peer with comparable urban retail strategy, capital structure, and ESG positioning — useful as a Nordic benchmark.
• Multi Corporation: European shopping-center developer, owner, and manager with operations across multiple European countries. Comparable to G City Europe (Atrium) on Continental European retail real estate and mixed-use repositioning.
• Federal Realty Investment Trust: US REIT specializing in open-air, mixed-use shopping centers and urban town centers. Comparable to G City's mixed-use retail + office + residential platform (e.g., Lippulaiva, AER Tampa), with strong ESG and transit-oriented positioning.
• Kimco Realty: US open-air shopping-center REIT focused on grocery-anchored and necessity-based properties. Closely comparable to G City's North American footprint (Gazit Horizons) and shares the same defensive, footfall-driven thesis.
• Klépierre: Pan-European shopping-center REIT owning and operating dominant retail destinations across continental Europe. Directly comparable to G City's mixed-use, necessity-anchored retail model across European geographies, with overlapping investor base and similar capital-recycling tactics.

Broad incumbents

• Simon Property Group: Largest US REIT and global retail real-estate operator with dominant malls, premium outlets, and mixed-use assets. Comparable to Gazit Horizons' US retail portfolio but at much larger scale and with a more premium / discretionary tenant mix.
• Unibail-Rodamco-Westfield: Global owner and operator of flagship shopping destinations (Westfield and others) in Europe and the US. A broader incumbent with overlapping shopping-center operations, mixed-use development, and ESG-driven repositioning — comparable to G City but with a more premium / discretionary tilt.

Regional players

• BR Malls Participações: Largest shopping-center company in Brazil, owner and operator of regional malls. Comparable to Gazit Brazil / Gazit Mall FII within the Brazilian retail real-estate market, with a similar supermarket-anchored and F&B-anchored tenant mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=sOY334x-iGM

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A1 record

Investments

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

Frequently asked questions about G City