The rising demand for brand new workplace area for Israel protection corporations continues to surge. Earnings producing property firm Vitania (TASE: VTNA) has reported a deal through which it’ll lease to protection electronics firm Elbit Methods Ltd. (Nasdaq: ESLT; TASE:ESLT) 40,000 sq. meters of workplace area for NIS 500 million.
Elbit will lease a whole constructing within the Vitania-Landa challenge within the Ness Ziona Science Park. A constructing is at present beneath building there that mixes industrial area, laboratories and workplaces masking 40,000 sq. meters and a 23,000 sq. meters underground car parking zone. The lease interval is for twenty-four years and 11 months, with Elbit having its first exit level after 17 years and 9 months. The whole lease for the lease interval as much as the primary exit level is NIS 544 million, with occupancy scheduled for July 2026.
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The lease settlement between Elbit and Vitania is the most recent actual property deal in a large-scale wave for protection corporations, which started because of the Russia-Ukraine battle and the battle in Israel beginning October 7 and the rising demand for weapons techniques, protection applied sciences and intelligence that has created an unprecedented wave of orders amongst protection corporations. This has required the trade to develop quickly and set up new manufacturing infrastructures at an accelerated tempo.
Vitania, managed by the Ungar household, is at present managed by Yariv Bar-Dea and is traded on the Tel Aviv Inventory Change with a market cap of NIS 971 million. The corporate owns income-producing properties masking 200,000 sq. meters. The challenge in Ness Ziona was initially deliberate for Benny Landa’s printing firm, which ran up money owed of NIS 1.7 billion and filed a request for a keep proceedings in the summertime of 2025. Because of this, Vitania suffered a lower in worth of NIS 80 million following the collapse of the printing firm.
Vitania was represented on this deal by Adv. Eyal Marom of the Gornitzky GNY regulation agency. Elbit was represented by Adv. Ilan Kremer of the Firon regulation agency.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on Might 31, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
