Ashtrom sells Rosh Pinna Mall for 48.5 million shekels
Ashtrom has agreed to sell the Rosh Pinna Mall to GT Real Estate for 48.5 million shekels. The new owner aims to boost the property's annual net operating income from 3 million to 5 million shekels.
Ashtrom is selling the Rosh Pinna Mall to GT Real Estate, owned by Gabriel Trabelsi, for 48.5 million shekels. The parties have signed an agreement under which GT will acquire 100% ownership of the mall, the adjacent parking lot, and the underlying land.
The Rosh Pinna Mall includes approximately 4,750 square meters of commercial space. Current tenants include fashion chains Tamnoon, Renuar, and Twentyfourseven. The mall's Net Operating Income (NOI) stands at approximately 3 million shekels per year, and GT expects to improve operations to increase this figure to 5 million shekels annually.
GT Real Estate was established in Netivot and currently maintains offices in Netivot and Tel Aviv. While the company has historically operated primarily in the south, it is now expanding into the north. Two months ago, it received a permit to build a 6,000-square-meter commercial center in Hatzor HaGlilit. Construction is set to begin soon, with occupancy expected by the end of 2027. The project will feature commercial space, tourism facilities, restaurants, shops, a supermarket branch, and a large discount store.
Currently, GT Real Estate owns nine income-producing properties in Sderot, Netivot, Ofakim, Jerusalem, and Eilat under the GT centers brand. It also has five additional properties under development in Dimona (two), Ofakim, Arad, and Hatzor HaGlilit, alongside a logistics complex in Ofakim. The group manages approximately 120,000 square meters of income-producing real estate nationwide.
