Gazit-Globe is a global real estate Company traded on the Tel Aviv Stock Exchange (TASE:GLOB) as part of the TA-25 and the real estate 15 Index. The Company is an owner, developer and operator of neighborhood and community shopping centers in growing metropolitan areas in North and South America, Europe and Asia.
The Gazit Group's was founded in 1991 by Chaim Katzman and currently has over 1,000 employees. The primary objectives of the Gazit Group operations are the creation of value through long-term maximization of cash flow and capital appreciation from its growing real estate portfolio.
Gazit's knowledge and expertise, combined with its proactive management style and disciplined acquisition strategy, has enabled the Group to consistently grow its business and expand into other asset classes and geographies.
In the last decade, Gazit Group's activities have grown significantly while improving the quality of its operations and assets, from 26 properties totaling 230,000 square meters (sqm.) in 1998 to 642 properties with a gross leasable area (G.L.A.) of approximately 6.1 million sqm. The Group's properties generate an annual rental income in excess of NIS 5 billion, which is derived from more than 13,000 long-term lease agreements, with a total asset value of approximately NIS 55 billion.
DIVIDEND POLICY
Since 1998, according to the Company’s stated policy, a quarterly dividend is distributed at a pre-determined amount. Starting the third quarter of 2009, the announced dividend will be NIS 0.37 per quarter (NIS 1.48 per year).
NORTH AMERICA
The Company operates in North America through the following subsidiaries:
Equity One Inc. (52%) is a real estate investment trust (REIT) listed on the New York Stock Exchange (NYSE: EQY), with an equity market capitalization of approximately US$ 1.4 billion. EQY is an owner, developer and operator of neighborhood shopping centers anchored by national and regional supermarket chains and other necessity-driven retailers, located primarily in growing metropolitan areas. EQY owns 152 properties, with a total G.L.A. of 1.5 million square meters, and 3 shopping centers under development.
First Capital Realty Inc. (51.7%) is listed on the Toronto Stock Exchange (TSX:FCR), with an equity market capitalization of approximately CAD$ 2 billion. FCR is an owner, developer and operator of neighborhood shopping center anchored by national and regional supermarket chains and other necessity-driven retailers, located primarily in growing metropolitan areas in Canada. FCR owns 171 properties, with a total G.L.A. of 1.9 million square meters, and 4 shopping centers under development.
Gazit America Inc. (66%) is focused on entrepreneurial real estate opportunities including the acquisition and development of income-producing properties and investments in public and private real estate entities. Gazit America owns and oporates 2 medical buildings with a total G.L.A. of about 11,000 sqm. Gazit America currently owns approximately 16% of Equity One, Inc.
ProMed Properties Inc. (100%) engaged in the acquisition and management of medical office and medical-research buildings in growing metropolitan areas of North America. ProMed owns and operates 15 properties with a total G.L.A. of approx. 90,000 sqm. and two multi-story parking garages in the Unites States and Canada.
Royal Senior Care LLC (RSC) (60%) specializes in the acquisition, development and management of senior housing communities, primarily in the southeastern United States. It owns and operates 15 senior housing communities with approx. 1,650 units.
EUROPE
Citycon Oyj. (47.9%). is listed on the Nordic stock exchange (OMX: CTY1S) , with an equity market capitalization of approximately EURO 630 Million. Citycon is an owner, developer and operator of shopping centers and commercial properties (primarily supermarket-anchored) in the Nordic and Baltic countries. Citycon owns 84 income-producing properties, with a total G.L.A of above 0.9 million sqm., including five properties under development.
Atrium European Real Estate (30.0%) is listed on the Vienna stock exchange (VSX:ATR), with an equity market capitalization of approximately EURO 1.7 billion. Atrium is an owner, developer and operator of shopping centers in Central and Eastern Europe. Atrium owns 152 income-producing properties with a total G.L.A of approximately 1.1 million sqm, and 42 land parcels for future development.
Gazit Germany (100%) is an owner, developer and operator of neighborhood shopping centers located in Germany. It currently owns 6 shopping centers with a total G.L.A. of 96,000 sqm. and a 2 land parcels for future development.
Gazit Bulgaria and Macedonia currently owns one shopping center with a total G.L.A. of 7,000 sqm. and 5 land parcels for future development.
ISRAEL
Gazit-Globe Israel (Development) Ltd. (75%) is engaged in the acquisition, development, and management of shopping centers in Israel. The Company owns 10 shopping centerswith total G.L.A. of approx.130,000 sqm, as well as 2 shopping centers under development and a land parcels for future development.
U. Dori Engineering Works Corp. (36.9%) a public company that is listed on the Tel Aviv Stock Exchange. U. Dori is one of Israel's leading construction companies and is primarily engaged in the construction of all asset classes of real estate in Israel and Eastern Europe.
BRAZIL
Gazit Brasil (100%) is an owner, developer and operator of 2 shopping centers with a total G.L.A. of 18,000 sqm. and additional shopping center under development.