Gav-Yam ( he, גב-ים), sometimes referred to as Bayside Land Corporation in English, is an

Israeli Israeli may refer to: * Something of, from, or related to the State of Israel * Israelis, citizens or permanent residents of the State of Israel * Modern Hebrew, a language * ''Israeli'' (newspaper), published from 2006 to 2008 * Guni Israeli ...

real estate company. The Company went public in 1978 and is traded on the

Tel Aviv Tel Aviv-Yafo ( he, תֵּל־אָבִיב-יָפוֹ, translit=Tēl-ʾĀvīv-Yāfō ; ar, تَلّ أَبِيب – يَافَا, translit=Tall ʾAbīb-Yāfā, links=no), often referred to as just Tel Aviv, is the most populous city in the G ...

Stock Exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

market. Gav-Yam share is part of the Tel Aviv 125 index. Some properties associated with Gav-Yam include

Totzeret HaAretz Towers Totzeret HaAretz Towers ( he, מגדלי תוצרת הארץ, ''Migdalei Totzeret HaAretz''), stylized as ToHa, is a partly built complex of three office skyscrapers in Tel Aviv, Israel. The first tower was completed in February 2019, and the sec ...

, Matam in Haifa, and the Haifa International Convention Center.

History

Gav-Yam was founded in June 1928 by the Economic Society for the Land of Israel, a company founded by Judge

Louis Brandeis Louis Dembitz Brandeis (; November 13, 1856 – October 5, 1941) was an American lawyer and associate justice on the Supreme Court of the United States from 1916 to 1939. Starting in 1890, he helped develop the "right to privacy" concept ...

's party. The Economic Society established Gav-Yam to develop 5,000 dunams (12,355

acres The acre is a unit of land area used in the imperial and US customary systems. It is traditionally defined as the area of one chain by one furlong (66 by 660 feet), which is exactly equal to 10 square chains, of a square mile, 4,840 square ya ...

) purchased in

Haifa Haifa ( he, חֵיפָה ' ; ar, حَيْفَا ') is the third-largest city in Israel—after Jerusalem and Tel Aviv—with a population of in . The city of Haifa forms part of the Haifa metropolitan area, the third-most populous metropol ...

Bay from the Haifa Bay Training Company. In 1939, Gav-Yam began building a residential neighborhood in

Kiryat Yam Kiryat Yam ( he, קִרְיַת יָם, lit. ''Sea Town'') is a city in the Haifa Bay district of Israel, north of Haifa. One of a group of Haifa suburbs known as the Krayot, it is located on the Mediterranean coast, between Kiryat Haim and the T ...

(initially called Gav-Yam), which later became a city. In partnership with another company, Gav-Yam established a residential neighborhood that includes a commercial center in Kiryat Eliezer in Haifa. Gav-Yam was also responsible for projects in the Carmel. The Company participated in the Jewish land purchase in Palestine. The land in Haifa Bay was bought with the

Jewish National Fund Jewish National Fund ( he, קֶרֶן קַיֶּימֶת לְיִשְׂרָאֵל, ''Keren Kayemet LeYisrael'', previously , ''Ha Fund HaLeumi'') was founded in 1901 to buy and develop land in Ottoman Syria (later Mandatory Palestine, and subseq ...

. In this project, Gav-Yam planned the gulf area's construction, paved roads and established industrial infrastructure. The company encouraged establishing factories on its lands in Haifa Bay and provided financial assistance to various factories to build and develop an industrial area. Among the assisted companies were Vulcan Automotive, Phoenicia, Telma and the Company for Cables and Wires. With the founding of Israel in 1948, Gav-Yam was involved in developing industrial areas in various places in the country, leased land from the

Israel Lands Administration The Israel Land Administration (ILA; he, מנהל מקרקעי ישראל, Minhal Mekarka'ei Yisra'el; ar, مديرية أراضي اسرائيل) is an Israeli government authority responsible for managing land in Israel which is in the public d ...

and the Ministry of Commerce and Industry, and continued to build industrial and commercial buildings for rent. Between 1954 and 1968, Gav-Yam participated in the construction and management of the Kishon Port and provided the port with many land reserves that the company owned. In 2021, Gav-Yam's ToHa Tower in Tel Aviv won award for best skyscraper in the Middle East.

Ownership

In 1970, PCB (Property and Building Corporation, part of the IDB Group) became the sole owner of Gav-Yam. In June 1978, the company first published a financial prospectus for an IPO, and its shares were registered for trading on the Tel Aviv Stock Exchange. On July 1, 2019, the assets holding rates and the company's issued capital decreased from 51.7% to 40.0%. Today, the holding rate of properties and a building is about 29.9%. At 2020-2021, Equity Finance Corporation, owned by

Aaron Frenkel Aaron G. Frenkel (born September 9, 1957 in Israel) is an international entrepreneur, investor and philanthropist. Career Since the 1980s, Frenkel has been the owner of the Loyd's Group, a company that engaged in investments, property and re ...

, acquired control of the company.{{Cite web, last=Gav-Yam, title=Gav Yam Reports Second Quarter 2021 Results, url=https://www.prnewswire.com/il/news-releases/gav-yam-reports-second-quarter-2021-results-301341998.html, access-date=2021-08-06, website=www.prnewswire.com, language=en

References

External links

Official website
Jewish businesses established in Mandatory Palestine 1928 establishments in Mandatory Palestine Companies based in Haifa Companies established in 1928