Kvutzat Acro Ltd

Kvutzat Acro Ltd (Hebrew: קבוצת אקרו בע"מ), known commercially as Acro Real Estate (אקרו נדל"ן), is an Israeli public real estate company operating through subsidiaries in entrepreneurial development and income-producing real estate. The company was founded in July 1994 by Yitzhak (Tzachi) Arvov under the name Arvov Investments Ltd and changed its name to Kvutzat Acro Ltd in December 2021. Its shares are traded on the Tel Aviv Stock Exchange, and in February 2022 its securities were listed for trading there, raising about NIS 500 million at a post-money valuation of roughly NIS 4 billion. Acro focuses on initiating, improving and building large-scale projects in high-demand areas, with most of its activity concentrated in Tel Aviv. Its portfolio spans luxury residential, office, commercial and hotel projects, as well as urban renewal. The company operates in two main segments: entrepreneurial real estate, which includes land identification, improvement and project initiation including urban renewal; and income-producing real estate, which includes construction of buildings for rent for office, commercial and hotel purposes. The company states that it maintains uncompromising quality and high standards of planning and execution in every project, and that its financial strength supports its continued leadership in the real estate world. Acro's founder, controlling shareholder and chairman is Yitzhak Arvov. Other major shareholders include Reia Strauss (since 2011) and The Phoenix Insurance Company (since 2018). The company's main subsidiaries include Acro Land Improvement Ltd (100%, founded July 1997), Acro Assets Ltd (100%, founded February 2016, engaged in construction and rental of income-producing real estate), Acro Real Estate Initiation Ltd (100%, founded August 2011, engaged in construction and sale of buildings and urban renewal projects under TAMA 38), and Acro Towers, Limited Partnership (99.9%). Notable projects in 2020–2021 include the Da Vinci Towers for residential, commercial and office use in Tel Aviv (in partnership with Israel Canada), the Golf complex in Neot Afeka, an urban renewal project in the Neve Sharet neighborhood, the Microsoft campus in Herzliya (in partnership with the Tadhar Group, Israel Canada and the Alied Group), and a business park at the Savyon junction. Notable projects in 2022 include the Mazeh Tower in Tel Aviv and ONE TOWER in the Diamond Exchange complex in Ramat Gan (in partnership with Rogovin). The company began activity in purchasing groups in 2006, though this activity is shrinking, and in 2014 it built the two southern towers of the Tel Aviv Towers. In 2016 it began activity in income-producing real estate.

Kvutzat Acro Ltd was founded in July 1994 by Yitzhak (Tzachi) Arvov under the name Arvov Investments Ltd. In December 2021, the company changed its name to its current name, Kvutzat Acro Ltd. In 2006, the company began activity in purchasing groups, though this activity is shrinking. In 2014, the company built the two southern towers of the Tel Aviv Towers. In 2016, the company began activity in income-producing real estate. Notable projects in 2020–2021 include the Da Vinci Towers for residential, commercial and office use in Tel Aviv (in partnership with Israel Canada), the Golf complex in Neot Afeka, an urban renewal project in the Neve Sharet neighborhood, the Microsoft campus in Herzliya (in partnership with the Tadhar Group, Israel Canada and the Alied Group), and a business park at the Savyon junction. Notable projects in 2022 include the Mazeh Tower in Tel Aviv and ONE TOWER in the Diamond Exchange complex in Ramat Gan (in partnership with Rogovin). In February 2022, the company's securities were listed for trading on the Tel Aviv Stock Exchange, and it raised about NIS 500 million at a post-money valuation of roughly NIS 4 billion. The company's controlling shareholder is its founder, Yitzhak Arvov. Other major shareholders are Reia Strauss (since 2011) and The Phoenix Insurance Company (since 2018).

• 2022

  Securities listed for trading on the Tel Aviv Stock Exchange in February; raised about NIS 500 million at a post-money valuation of roughly NIS 4 billion.

• 2021

  Company changed its name to Kvutzat Acro Ltd in December.

• 2018

  The Phoenix Insurance Company became a major shareholder.

• 2016

  Company began activity in income-producing real estate; subsidiary Acro Assets Ltd founded in February.

• 2014

  Company built the two southern towers of the Tel Aviv Towers.

• 2011

  Subsidiary Acro Real Estate Initiation Ltd founded in August; Reia Strauss became a major shareholder.

• 2006

  Company began activity in purchasing groups.

• 1997

  Subsidiary Acro Land Improvement Ltd founded in July.

• 1994

  Company founded in July by Yitzhak (Tzachi) Arvov as Arvov Investments Ltd.

Premium real estate developer focused on large-scale, high-quality projects in high-demand areas, primarily Tel Aviv.

• Acro Mazeh Tower

  Flagship project in Tel Aviv.

• Da Vinci Towers

  Residential, commercial and office project in Tel Aviv, in partnership with Israel Canada.

• ONE TOWER

  Project in the Diamond Exchange complex in Ramat Gan, in partnership with Rogovin.

• Tel Aviv Towers (southern towers)

  Two southern towers built in 2014.

• Microsoft campus Herzliya

  In partnership with Tadhar Group, Israel Canada and Alied Group.

1. 1אקרו - פרויקטי מגורים, מסחר ומשרדים - אקרוacronadlan.com
2. 2Kvutzat Acro Ltd - Wikidatawikidata.org
3. 3קבוצת אקרו - Wikipediahe.wikipedia.org