Osher Ad signs deal with Zim Urban Life

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

By JERUSALEM POST STAFF
July 21, 2019 20:59
The Dead Sea mall

The Dead Sea mall. (photo credit: SOHAR PRODUCTIONS)

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 20 million 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 100 million 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 in Arad, Netivot, Beit Shean, Ma’alot, Umm el-Fahm and Yarka.


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