BIG Shopping Centers

BIG Shopping Centers Ltd is an Israeli commercial property development, investment, and management company. Founded in 1994 by Yehuda Naftali, it began with a vision of bringing American-style open-air shopping centers to Israel. The company’s retail format emphasizes accessible, largely open-air centers near major roads, with spacious stores and free customer parking. Its BIG Fashion-branded destinations include enclosed malls and street-mall-style lifestyle centers. Shopping centers remain the group’s central focus, but its activities extend into offices, logistics, residential rental properties, mixed-use development, and energy. The company says it develops, invests in, and manages projects across these sectors, with most of its business associated with income-producing real estate. It also describes investment and development activity in renewable energy, including photovoltaic installations on shopping-center roofs and work on energy storage and renewable projects. BIG operates directly in Israel and has activities in Serbia, Montenegro, and France. The group also has exposure to Romania, Poland, and the Czech Republic through its controlling stake in AFI Properties, a real-estate company focused particularly on offices and rental housing. BIG’s official company page describes its portfolio as including shopping centers and malls, office buildings, residential projects, mixed-use projects, and logistics centers. The asset count and ownership percentages can vary by reporting date; the company’s about page states that it controls AFI Properties. The company is publicly traded on the Tel Aviv Stock Exchange, where it has been listed since 2006. The supplied sources identify the Naftali brothers, Yehuda and Roni, as its controlling shareholders. Its Israeli headquarters are listed at BIG Fashion Glilot in Ramat Hasharon. BIG’s history includes expansion into Serbia and the United States, a subsequent decision to exit its US activity, investment in AFI Properties, and continued growth across retail and other property sectors. BIG Fashion Glilot opened in 2025, according to the supplied Hebrew Wikipedia entry.

BIG Shopping Centers was founded in 1994 by Yehuda Naftali, who set out to develop open-air shopping centers in Israel inspired by American retail centers. The first BIG power center, BIG Beersheba, opened in 1997 in partnership with Shikun Ovdim. In 1998, the business began operating as a limited partnership established by the Naftali brothers through their private companies. By 2004, BIG had developed five shopping centers in Israel, and that year its activities were consolidated into BIG Shopping Centers Ltd. The company expanded its early portfolio through development and acquisitions. In 2003 it bought Shikun Ovdim’s stakes in two centers, and in 2004 Eitan Bar Zeev was appointed chief executive. BIG went public on the Tel Aviv Stock Exchange in May 2006, raising funds through a share and bond offering. Its listed securities have since been included in major Tel Aviv market indices, as described by the company. International expansion began in the late 2000s. In 2008, BIG became the leading partner in BIG CEE, a venture focused on Serbia. In 2009, it entered the United States in partnership with Kimco Realty, acquiring income-producing open-air centers. The US portfolio later grew to around 30 centers, according to the supplied Hebrew Wikipedia entry. BIG began disposing of some US assets in 2019 and decided in 2020 to exit the entire US operation, directing proceeds toward other regions and areas including green and renewable energy. The group diversified into logistics and other forms of property. In May 2018 it expanded into identifying, acquiring, and developing logistics centers in and around Paris. In 2019 it completed an investment in AFI Properties, a real-estate company focused on offices, residential property, and commercial real estate. Following a subsequent tender-offer and merger process in December 2020, BIG became AFI Properties’ controlling shareholder. BIG’s own company page describes AFI Properties as primarily focused on offices and rental housing, and identifies operations in several Central and Eastern European markets through the subsidiary. Leadership changed in 2019: Eitan Bar Zeev became chairman, and Hai Galis was appointed chief executive. The company’s retail development has continued alongside investment in offices, residences, logistics, mixed-use projects, and energy. In 2022, the company was reported to have acquired a project in Montenegro and to have bought Tel Aviv’s Sarona Market food complex with Mega Or. On 6 June 2023, BIG closed its shopping centers as part of protests against the judicial reform, according to the supplied Hebrew Wikipedia entry. BIG Fashion Glilot opened on 26 February 2025; the same entry describes it as Israel’s largest mall. The company’s official site presents BIG as an active international group and states that it is publicly traded in Israel.

• 2025

  BIG Fashion Glilot opens

• 2023

  Shopping centers closed during judicial-reform protests

• 2022

  Montenegro project and Sarona Market acquisition

• 2020

  Decision to exit US operations

• 2020

  AFI Properties becomes controlled subsidiary

• 2019

  Leadership change and AFI Properties investment

• 2018

  Logistics expansion in France

• 2009

  Entry into the United States

• 2008

  Serbian expansion through BIG CEE

• 2006

  Tel Aviv Stock Exchange listing

• 2004

  Company incorporated and activities consolidated

• 2003

  Acquisition of stakes in two centers

• 1998

  Business begins as a limited partnership

• 1997

  First BIG power center opens

• 1994

  BIG founded

A major Israeli developer and operator of open-air, road-accessible shopping centers, with a broader income-producing real-estate portfolio and international operations.

• BIG open-air shopping centers

  Road-accessible retail centers, generally designed around spacious shops and free parking.

• BIG Fashion

  The group's brand for enclosed malls and street-mall-style lifestyle centers.

• Commercial and mixed-use real estate

  The group develops and manages projects that can include offices, residential uses, logistics, and other uses.

• Renewable-energy activity

  The company describes photovoltaic systems on shopping-center roofs and investment in energy storage and renewable projects.

1. 1About the company - BIGbigcenters.co.il
2. 2BIG homepagebigcenters.co.il
3. 3Company profile - BIGbigcenters.co.il
4. 4ביג מרכזי קניותhe.wikipedia.org
5. 5BIG Shopping Centers Ltdwikidata.org
6. 6ביג מרכזי קניותhe.wikipedia.org