Efi Nechasim expands residential market activity; net profit rises in third quarter

In depth

Efi Nechasim reported in its third-quarter report that net profit attributable to owners rose 15.4% to NIS 512 million. The company's operating revenues rose 8% to NIS 293 million, and operating cash flow rose 19% to NIS 142 million.

The offices in Phase A of the Landmark project account for more than 10% of revenues. In Phase B of the project, whose construction is due to be completed in another year, 18 of the 116 apartments have been sold. In the quarter, 4 apartments were sold in the project.

CEO Avi Brazili said: "We are advancing projects in Warsaw, in Prague, and also in Tel Aviv." The company is expanding its activity in the residential market, alongside the income-producing real estate it holds.