Israel Canada

Israel Canada and Acro Real Estate are finalizing their merger by October 30, creating a real estate giant despite a 3 billion NIS drop in combined market value.

Barak Rosen and Asi Touchimayor are advancing their acquisition of the Tikun Olam Cannbit stock shell following court approval. The real estate tycoons control public firms valued over ₪6 billion and are weighing strategic spinoffs for their growing portfolios.

The hotel arm led Israel Canada to a half-year loss of 36 million shekels, despite a shift to profit in the second quarter. In the Rainbow project in Sde Dov, only 7 apartments were sold in the half-year, with a decrease in price per meter and a lowering of the profit forecast. The company presented the financing plan for the Acro deal and estimated that the exposure from the favorable payment...

Half-year data points to a high average of sales. The first quarter was stronger, but the company moved from a net loss last year to a profit, with revenues also rising compared to 2025. The average price in Sde Dov remains high.

Fattal and Israel Canada Hotels have leveraged the financial distress of the German Revo Hospitality Group to expand their European footprint. The companies are acquiring rights to 15 hotels in Germany and the Netherlands for approximately 40 million euros.

Acro ended the second quarter with 42 apartments sold, up from 34 in the previous quarter. The company reported a net profit of 20 million shekels, recovering from a 6 million shekel loss in the first quarter.

The Tel Aviv District Court has rejected a petition by the Ramat HaSharon municipality against the "Elco Complex" project by Israel Canada. The ruling allows the developer to proceed with licensing and construction of the new urban district.