Income-producing real estate & build residential projects
Ravad in 2025 is no longer a story of international diversification but of financing: one yielding asset and two Israeli projects, with permits advancing faster than the company's cash cushion.
The Swiss asset was stable and fully occupied, but at Ravad level it no longer looked by the end of 2025 like a material diversification leg. Ravad's share of the property value stood at NIS 15.281 million, but the carrying value of the stake was only NIS 8.105 million, and afte…
Sde Dov is already a meaningful balance-sheet asset for Ravad, but the gap between value and project still runs through upfront capital, permits, and an execution path that is not yet closed.
The first-tower permit improved planning certainty at Antokolsky, but it did not close the economic gap: cumulative impairment rose to NIS 65.8 million, second-tower fees are still unfunded, and the bank mostly bought time.
