Brickstone invests NIS 60m. to open 10 private vault areas

A similar phenomenon is occurring throughout the world and in recent years, entrepreneurs have filled this hole left by shrinking banks by opening private vaults.

By JERUSALEM POST STAFF
January 23, 2019 21:06
1 minute read.
Brickstone invests NIS 60m. to open 10 private vault areas

DVIR INDIG, CEO of Brickstone.. (photo credit: MORAG BITAN)

 
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Until about five years ago, banks in Israel had vaults with 100,000 safes. In light of the banks’ policy of closing branches, reducing activity, and switching to digital banking, the banks closed many vaults and estimates are that within the next five years the operation of these compounds will not be economically profitable.

A similar phenomenon is occurring throughout the world and in recent years, entrepreneurs have filled this hole left by shrinking banks by opening private vaults.

About two years ago, a group of lawyers with a rich security background from the IDF and the defense establishment established the Brickstone company, which established its first private safety deposit box vault in the Rubinstein Tower in Tel Aviv, in consultation with and accompanied by the British company Balthorne, which is one of the largest companies in England and specializes in the establishment and management of vaults.

For two years, the construction team worked to locate suitable locations, strengthen the structure with steel constructions, strengthen the floor surfaces to withstand 3,000 kg. per square meter and establish the most up to date and most advanced electronic security infrastructure in the world.

Brickstone invested $1.5m. in the construction of its first center in the Rubinstein Tower in Tel Aviv, and now has announced  a major investment for more centers.

“According to the strategic plan for the next five years, the company will open 10 additional private safety deposit box centers in Israel, with a total investment of NIS 60m.,” said Dvir Indig, CEO of Brickstone.

The Brickstone complex, insured by Lloyd’s international insurance company, follows strict security guidelines. Each customer has a secure personal cell, with he or she being the only who has the key to it, and only through the customers’ fingerprint and face identification will they have access to the cell.

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