Building residential projects in israel
Almog proved in 2025 that its development engine is growing again, but the investment case still depends on turning post-balance-sheet financing and monetization events into real liquidity.
The new Kfar Saba structure mainly solves the transition between land acquisition and full project lending: it places senior bank debt above an expensive subordinated equity layer, but it does not remove the project’s dependence on appraisal, project lending, and additional capi…
The Mata Zeytim disposal can materially ease Almog's liquidity only if it is read through the estimated NIS 72 million of free cash and the pre-colored payment structure, not through the headline of roughly NIS 68 million of pre-tax gain.
Yavne holds real value, but in the current setup it is still value trapped inside a pledged asset rather than free cash moving up to Almog. The refinancing signed on March 25, 2026 solves a near-term maturity wall, but it mainly rolls roughly NIS 245 million into a new NIS 250 m…
