Gav-Yam

What Gav-Yam does

Gav-Yam is Israel's largest income-generating real estate company (REIT), operating since 1928 and listed on the Tel Aviv Stock Exchange since 1978 (ticker: AG) under the controlling ownership of Property and Building Corporation Ltd. since March 2022. Its portfolio comprises approximately 1.2 million square meters of income-producing real estate across 19 parks and 360 tenants, with reported occupancy of 97% and total asset value of NIS 12 billion. Bond ratings of AA (S&P) and Aa2 (Midroog) position the company at investment-grade quality within the Israeli capital markets.

The company's portfolio is concentrated in Israel's primary high-technology and defense R&D corridors, including Matam (Haifa), Herzliya Pituach, Tel Aviv (ToHa and the forthcoming ToHaTwo), Be'er Sheva (Gav-Yam Negev), Rehovot, and the Gav-Yam Hebrew Campus in Jerusalem. Tenants span global hyperscalers (Google, Apple, Microsoft, Intel, NVIDIA, IBM, Amazon, Mobileye) and Israeli defense primes (Elbit, Rafael), with sustainability credentials at LEED Platinum and Gold tiers. The flagship development is ToHaTwo, a 77-floor Tel Aviv office tower pre-leased to Google for 60,000 sqm at NIS 115 million per year — Israel's largest single lease in history — with completion scheduled for Q4 2026.

Gav-Yam generates revenue primarily through long-term rental income from its income-producing portfolio, supplemented by development and asset management activities. The business model is asset-heavy and capital-intensive, relying on a mix of bond and equity financing to fund its development pipeline (ToHaTwo, Matam East 3, Gav-Yam Negev expansion, Gav-Yam Rehovot, Hebrew Campus). Operating income reached NIS 194 million in Q2 2025, annualizing to roughly NIS 776 million, consistent with a revenue band in the US$250–500M range at prevailing exchange rates. As of Q3 2025, Gav-Yam's stock was up 46% year-to-date, reflecting market recognition of the development pipeline and anchor-tenant momentum. Leadership transitioned in September 2024 with the appointment of Nataly Mishan-Zakai as CEO, replacing long-tenured Avi Jacobovitz.

Name

Gav-Yam

Legal name

Gav-Yam Lands Corporation Ltd.

Website

https://gav-yam.co.il

Company type

Public

Founded year

1928

Operating status

Operating

Headcount range

101–250 employees

Short description

Gav-Yam is Israel's largest income-generating REIT (founded 1928, TASE-listed 1978), operating 1.2 million sqm across 19 parks and 360 tenants — including Google, Apple, Intel, NVIDIA and Israeli defense primes — with NIS 12B in assets and a 2026 ToHaTwo anchor lease to Google at NIS 115M/year.

Ownership category

akta.pro rank

Headquarters

HQ city

Haifa

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Real Estate Leasing: Gav-Yam generates the majority of its revenue from leasing office, hi-tech park, and logistics/industrial spaces to corporate tenants. Quarterly operating income reached NIS 194 million. The portfolio includes 1.2 million sqm of income-generating properties across 19 parks with 360 tenants. 97% occupancy rate.
2. Residential Development Sales: Gav-Yam Residential (formerly Neve Gad) develops and sells residential units. The company has introduced more than 20,000 residential units nationwide and has approximately 6,000 additional units in development across multiple urban renewal projects.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Gav-Yam is Israel's largest income-generating real estate company, developing, building, leasing, and managing a diversified portfolio of 1.2 million sqm across 19 hi-tech, office, logistics, and industrial parks spanning from Haifa to Be'er Sheva. The company serves 360 enterprise tenants (including Apple, Google, Intel, NVIDIA, Microsoft, Amazon, IBM, and Mobileye) with LEED-certified Class A office, R&D, and logistics facilities, and operates a separate residential division (Gav-Yam Residential, formerly Neve Gad) developing urban renewal projects with approximately 6,000 units in pipeline.

Product overview

Gav-Yam is Israel's leading income-generating real estate company, operating a diversified portfolio of commercial and residential properties. The company offers three main product categories: (1) Hi-tech and business parks including Matam Park (largest in Israel), Gav-Yam Negev, Gav-Yam Rehovot, and Gav-Yam Hebrew Campus that combine academic-institutional partnerships with office/R&D spaces; (2) Office and commercial complexes including ToHa/ToHaTwo towers in Tel Aviv, Gav-Yam Raanana, and multiple Herzliya locations (Center, O2, North) featuring LEED-certified sustainable buildings; and (3) Logistics and industrial parks including Gav-Yam Haifa Bay, Gav-Yam Modi'in, Gav-Yam Lod, Gav-Yam Holon, and Gav-Yam Beer Yaakov strategically located near transportation hubs. Gav-Yam Residential (formerly Neve Gad) operates as a separate division for residential development including the TRUE TEL AVIV urban renewal project. The Tech&Talk innovation hub at Matam Park provides ecosystem services. With over 90 years of experience, 19 parks, 1.2 million sqm, and 360+ clients, the company serves as home to global technology leaders while developing new areas in high-demand locations across Israel.

Differentiator

Problem solved

Functional benefit

Products and services

• Matam Park

Quantifiable outcome

• 97% occupancy rate across portfolio of 1.2 million sqm
• +6 more outcomes

Named customers25 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core, minor and supporting.

• Ben Gurion University of the NegevcoreStrategic or Co-development PartnerBen Gurion University of the Negev is a key academic partner in Gav-Yam Negev. The park's unique ecosystem connects IDF elite tech unit veterans and BGU alumni with hi-tech professionals and investors. Gav-Yam holds 73.25% of the Negev partnership.
• Weizmann Institute of SciencecoreStrategic or Co-development PartnerWeizmann Institute of Science partnered with Gav-Yam to establish Gav-Yam Rehovot, an advanced academia-business park in the Ness Ziona/Rehovot industrial zone. The park focuses on life sciences and semiconductor companies. Gav-Yam holds 72% of the partnership.
• Haifa Economic CompanycoreStrategic or Co-development PartnerHaifa Economic Company co-owns Matam Park with Gav-Yam (50.1% Gav-Yam share). Matam Park is Israel's largest and most advanced hi-tech and business park, spanning 380,000 sqm with 15,000 employees and 75 leading tech companies.
• Maman GroupcoreStrategic or Co-development PartnerGav-Yam Lod is a joint logistics and office park between Gav-Yam and Maman Group (50% each). Located at Lod industrial zone entrance. Primarily leased to LogistiCare (Maman Group subsidiary) and to Israel Police Lahav 433.
• Amot Investments Ltd.coreStrategic or Co-development PartnerAmot is Gav-Yam's development partner for the landmark ToHa and ToHa Two office tower projects in Tel Aviv. ToHa (27 floors, 55,000 sqm) is complete. ToHa Two (77 floors, 201,000 sqm total area, 165,000 sqm offices) is under construction, expected Q4 2026.
• Shufersal Real EstateminorStrategic or Co-development PartnerShufersal Real Estate partnered with Gav-Yam on the Raanana project, a 72,000 sqm complex combining offices and retail. Shufersal also operates a Cash & Carry center in Gav-Yam Beer Yaakov logistics park.
• Hebrew University of JerusalemcoreStrategic or Co-development PartnerHebrew University partnered with Gav-Yam to create the Gav-Yam Hebrew Campus — Israel's first high-tech campus operating within an academic institution, located in the heart of the Hebrew University of Jerusalem. Houses development centers of leading technology companies alongside financial and business firms.
• Beer Sheva MunicipalitysupportingOthersBeer Sheva Municipality is a partner in the Gav-Yam Negev project, supporting the development of the Negev through a public-private-academic partnership aimed at establishing a national cyber center and technology hub in Be'er Sheva.
• KUD (Kajima Corporation subsidiary)supportingStrategic or Co-development PartnerKUD, a subsidiary of Japanese corporation Kajima, is a private partner in the Gav-Yam Negev project alongside Gav-Yam (73.25%), Ben Gurion University, Beer Sheva Municipality, and the International Development Company.
• International Development Company (Israel)supportingStrategic or Co-development PartnerInternational Development Company is a partner in the Gav-Yam Negev project, contributing to the public-private-academic partnership developing the Negev technology ecosystem.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Amot Investments Ltd. Amot is an Israeli publicly-traded REIT specializing in office and hi-tech properties; it is also Gav-Yam's development partner on the ToHa/ToHaTwo towers, making it the closest direct comparable in product mix, geography, and tenant strategy.
• Property and Building Company Ltd. Property and Building Corp. is the controlling shareholder of Gav-Yam and a fellow Israeli real-estate holding company with overlapping office, industrial, and residential holdings; directly comparable in geography and asset class.
• Israel Land Development Company Ltd. ILDC is a long-standing Israeli real-estate developer and lessor active in commercial, residential, and tourism properties; directly comparable in domestic REIT-style real-estate activities.
• Melisron Ltd. Melisron is an Israeli real-estate company with a diversified income-producing portfolio including offices, retail, and logistics; a comparable domestic operator of leasable commercial property.
• Azorim-Development, Construction & Investments Ltd. Azorim is an Israeli real-estate developer of residential and commercial projects and one of the principal domestic competitors in Israeli income-producing property, including office parks and urban renewal.

Broad incumbents

• British Land Company plc: British Land is a UK-listed REIT operating office, retail, and logistics parks including science and innovation campuses; comparable in operating hi-tech/innovation campuses that pair academia with enterprise tenants.
• Kilroy Realty Corporation: Kilroy is a West Coast US office REIT focused on LEED-certified, life-sciences-enabled Class A space leased to large tech and life-sciences tenants — highly comparable to Gav-Yam's LEED Platinum hi-tech parks strategy.
• Vornado Realty Trust: Vornado is a large US office REIT concentrated in New York; it provides a comparable business model of owning and operating trophy office assets leased to high-credit enterprise tenants.
• SL Green Realty Corp. SL Green is a US office REIT focused on Manhattan Class A office towers; comparable in scale of trophy office assets, blue-chip tenant base, and active development pipeline.
• Boston Properties, Inc. Boston Properties is a US Class A office REIT operating premium office towers in gateway markets; its focus on high-end, sustainable, tech-tenant office space is directly analogous to Gav-Yam's ToHa/ToHaTwo positioning.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@GAV-YAM
• Facebookfacebook.com/profile.php?id=100094457870685&locale=he_IL
• LinkedInlinkedin.com/company/gav-yam
• Instagraminstagram.com/gav_yam_israel

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

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 Gav-Yam