Gazit-Globe a global real estate Company traded on the Tel Aviv Stock Exchange (TASE:GLOB) as part of the TA-25. 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 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 465 properties with a gross leasable area (G.L.A) of approximately 4.7 million sqm. The Group's properties generate an annual rental income in excess of NIS 3.8 billion, which is derived from more than 10,800 long-term lease agreements, with a total asset value of approximately NIS 44 billion.
DIVIDEND POLICY
Since 1998, according to the Company’s stated policy, a quarterly dividend is distributed at a pre-determined amount. For 2008, the announced dividend will be at least NIS 1.20 per share.
NORTH AMERICA
The Company operates its business in North America through the following subsidiaries:
Equity One Inc. (45.9%) is a real estate investment trust (REIT) listed on the New York Stock Exchange (NYSE: EQY), with an equity market capitalization of approximately US$ 1.8 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 162 properties, with a total G.L.A. of 1.6 million square meters, and 3 shopping centers under development.
EQY has entered the Asset Management business by announcing a transaction with CalPERS, the largest public pension fund in the U.S.
First Capital Realty Inc. (54.6%) is listed on the Toronto Stock Exchange (TSX:FCR), with an equity market capitalization of approximately C$ 1.8 billion. In the U.S., FCR owns 14 millions shares of EQY (approximately 19%). 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 155 properties, with a total G.L.A. of 1.8 million square meters, and six shopping centers under development.
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 73,000 sqm. and two multi-story parking garages in the Unites States and Canada.
Royal Senior Care LLC (RSC) (50%) specializes in the acquisition, development and management of senior housing communities, primarily in the southeastern United States. It owns and operates 2,000 residential units including projects under development.
EUROPE
Citycon Oyj. (39.4%). is listed on the Nordic stock exchange (OMX: CTY1S) , with an equity market capitalization of approximately EURO 800 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 86 income-producing properties, with a total G.L.A of 924,000 sqm., including five under development.
Gazit Europe (100%) is an owner, developer and operator of neighborhood shopping centers located in Germany. It currently owns 7 shopping centers, including 2 under development with a total GLA of 107,000 sqm.
Gazit Bulgaria (75%) is an owner, developer and operator of neighborhood shopping centers in Bulgaria. Currently it owns 5 properties including 3 under development. In addition, the Company has acquired its first property in Skopje, Macedonia.
ISRAEL
Gazit-Globe Israel (Development) Ltd. (75%) is engaged in the acquisition, development, and management of shopping centers in Israel. The Company owns 8 shopping centers, as well as 7 shopping centers under development.
U. Dori Engineering Works Corp. (37.87%) , a public company that is traded 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 a 14,328 square meter shopping center, which is anchored by a Carrefour supermarket, situated on a 22,840 sqm. land parcel in Sao Paulo, Brazil.
INDIA
In 2007, Gazit-Globe made its first investment in India in the amount of $110 million. The company has entered into an agreement with a property investment fund in India that is part of the HDFC group, one of the largest financial groups in India.