Former Melisron CEO Ofir Sarid Passes Away at 54 After Illness
Ofir Sarid, former CEO of Israeli real estate giant Melisron, has passed away at 54 after a severe illness. During his tenure, he successfully steered the company through the COVID-19 pandemic and expanded into residential real estate.
Ofir Sarid passed away at the age of 54 following a prolonged battle with a severe illness. Sarid served as CEO of Melisron for nearly seven years before stepping down due to his medical condition. Under his leadership, the company underwent a profound strategic transformation, expanding significantly into residential real estate while maintaining its core portfolio of Ofer malls and prime office buildings.
A Quiet Leader in a High-Profile Industry
Born in September 1972, Sarid was a certified public accountant with degrees in economics and accounting from the University of Haifa and in law from Bar-Ilan University. Colleagues described him as a quiet, gentlemanly manager who preferred substance over flashy headlines, a notable trait in an intensely competitive industry often characterized by friction between mall executives and retail giants.
He began his career at the accounting firm Somekh Chaikin KPMG and subsequently held senior financial management roles, including CFO of NetVision, which he helped guide through its public offering and merger with 013 Barak.
Steering Melisron Through Pandemic and War
Sarid joined Melisron in 2011 as CFO of British Israel prior to its merger into Melisron, advancing to CFO of the parent company in March 2012. In November 2019, he succeeded legendary CEO Avi Levi, taking the helm just months before the onset of the COVID-19 pandemic in March 2020. Facing unprecedented closures and market uncertainty, Sarid spearheaded a strategic diversification plan.
"The Israeli public proves with its feet that it is a nation that loves life," Sarid remarked during a real estate conference, reflecting on the rapid recovery of mall revenues following periods of severe disruption, including the pandemic lockdowns and the aftermath of the October 7 attacks.
Strategic Expansion into Residential Real Estate
Recognizing the need to balance retail exposure, Sarid led Melisron's aggressive expansion into residential development. In 2022, the company acquired a 50% stake in Aviv Yisum for approximately 600 million shekels, subsequently completing the full buyout at a valuation of 1.25 billion shekels. Renamed Aviv Melisron, the subsidiary secured prime land in 2025 in the northern section of the Sde Dov district for roughly 605 million shekels.
Alongside residential ventures, Sarid continued to oversee flagship commercial assets, including the Landmark office project in Tel Aviv and extensive upgrades to Ofer Ramat Aviv Mall, cementing the company's financial resilience until his departure in September 2025.
