Osher Ad signs deal with Zim Urban Life Kfar Saba

Upon the completion of this transaction 45% of the commercial and entertainment areas at Zim Urban Life Kfar Saba will have been leased.

By JERUSALEM POST STAFF
August 22, 2019 02:07
Shopping

Shopping cart. (photo credit: Marc Israel Sellem)

The Rani Zim Shopping Centers Group has signed a deal with the retail chain Osher Ad to lease 5,200 sq.m. (including service areas and galleries) in the ZIM Urban Life Kfar Saba project for 10 years.

The value of the transaction is estimated at NIS 52 million.

The supermarket chain intends to invest NIS 20m. in the construction of its Zim Urban Life Kfar Saba branch.

Osher Ad’s turnover in 2018 was NIS 3 billion.

Upon the completion of this transaction 45% of the commercial and entertainment areas at Zim Urban Life Kfar Saba  will have been leased.

The project will include an office campus of 40,000 sq.m. and another 12,000 sq.m. of leisure and commercial space.

To date, the company has invested NIS 100m. in the center.

The Rani Zim Shopping Centers Group is owned by businessman Rani Zim and operates in the commercial real estate sector and owns six shopping centers: Arad, Netivot, Beit She’an, Ma’alot, Umm el-Fahm and Yarka.


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