Prashkovsky Investments to plough NIS 1b. into construction projects

The company published the expected future net operating income by division into the profitable projects in planning/execution.

Illustrative photo of the 200 New Israeli Shekel bill. (photo credit: NATI SHOHAT/FLASH90)
Illustrative photo of the 200 New Israeli Shekel bill.
(photo credit: NATI SHOHAT/FLASH90)

Prashkovsky Investments anticipates an investment of more than NIS 1 billion in real estate projects and apartments for rent in the coming years, it said this week in a press release.

In a financial report for the first nine months of 2022 and a strategic presentation for investors this week, Prashkovsky showed a sharp increase in the company’s net and operating profit.

In the presentation, the company published the expected net operating income from income-generating assets in the coming years, based on the data of the first nine months of 2022 and with the addition of the expected increase in the net operating income from projects under planning/implementation, which is NIS 173.9 million.

 Israeli money bills. (credit: PIXABAY) Israeli money bills. (credit: PIXABAY)

What are the future projects?

The company published the expected future net operating income by division into the profitable projects in planning/execution:

  • An apartment project for rent in Ramle starting in 2023 – NIS 16.5m.
  • Alef complex office project in Israel starting in 2023 – NIS 21m.
  • Commercial project in Be’er Ya’acov starting in 2024 – NIS 2.5m.
  • An apartment project for rent in Lod/Ben-Shemen starting in 2025 – NIS 17m.
  • A development project in Herzliya of commerce, offices and a parking lot starting in 2025 – NIS 32m.
  • Office and commercial project in Ness Ziona starting in 2026 – NIS 7.8m.
  • Student dormitory project in Rehovot starting in 2026 – NIS 54.1m.

“The company finished the first nine months of 2022 with a total profit of about NIS 330 million and equity of about NIS 1.65 billion, which is about 40% of the balance sheet, and the debt to the cap is low.”

Sharon Prashkovsky

“The company finished the first nine months of 2022 with a total profit of about NIS 330 million and equity of about NIS 1.65 billion, which is about 40% of the balance sheet, and the debt to the cap is low,” Prashkovsky Investments CEO Sharon Prashkovsky said. “The company continues to stand out as one of the leading real estate companies and is in a very good place compared to its competitors, especially at a time when interest rates are on the rise.”