Israeli Daily News Roundup
Meitav surpasses Altshuler Shaham as Israel's largest pension fund company
Updates
Meitav surpasses Altshuler Shaham as Israel's largest pension fund company
In December 2025, Meitav overtook Altshuler Shaham to become Israel's largest pension fund manager, with assets totaling 130.8 billion shekels, compared to Altshuler Shaham's 125.5 billion shekels. Throughout 2025, Meitav's assets grew by nearly 30 billion shekels, while Altshuler Shaham saw a decline of about 6 billion shekels, impacted by continuous withdrawals due to competitors offering higher returns. Despite this, Altshuler Shaham retains the largest single fund in Israel, managing 32.4 billion shekels in its general training fund.
Meitav, led by CEO Hagai Oren, has benefited from lower management fees and stronger returns, making it appealing to investors. The company's stock surged by 1,018% over three years, establishing it as the largest investment house in Israel by market value. In contrast, Altshuler Shaham's stock experienced a modest increase of 22% in 2025, following a structural change. Overall, the financial landscape is shifting, with Meitav's growth reflecting a broader trend toward competitive asset management and investment strategies within the Israeli market.
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Challenges in Herzliya Pituach's office market
The office space market in Herzliya Pituach is currently facing significant challenges, marked by an oversupply of vacant spaces. Once a thriving center for high-tech businesses, the area is losing its appeal due to competition from Tel Aviv's more accessible central business district. Adding to the strain, new developments, including Allied's office tower in Big Glilot, have attracted major companies like NSO and Final, further impacting occupancy rates.
Despite Herzliya's office occupancy rate ending 2025 at 96% with rental prices around 100 NIS per square meter, potential tenants are deterred by limited public transportation and fewer amenities compared to Tel Aviv. Consequently, real estate professionals report a willingness among developers to reduce prices, with offers as low as 80 NIS per square meter.
In response, the city of Herzliya is working to revitalize the area by improving transport connectivity and promoting it as a culinary and leisure destination. While challenges persist, developers remain optimistic, citing anchor tenants such as Microsoft and Apple as key players. The city's strategic initiatives aim to enhance the district's appeal amid ongoing market fluctuations.
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Court approves Summit's $451 million acquisition of 5,150 rental units in New York
The U.S. Federal Bankruptcy Court in New York has approved the transfer of 5,150 rental apartments from De Zarasai to Summit, controlled by Zohar Levy, for $451 million. This acquisition proceeds despite opposition from New York City Mayor Zohran Mamdani. The deal is anticipated to boost Summit's annual Net Operating Income (NOI) by 23%, increasing from $156 million to $192 million.
The properties are located across Brooklyn, Manhattan, Queens, and the Bronx and include commercial units, parking spaces, and a garage. Summit acquired the portfolio at a 20% discount from its original valuation in De Zarasai's books. Flagstar Bank is financing 75% of the purchase at a fixed annual interest rate of 5.25% for three years. With this acquisition, Summit will own 8,000 rental units in the city. Real estate analyst Raz Domb notes that the transaction could provide an 8% return compared to the current 6%, despite concerns from the city regarding Summit’s ability to address existing property issues.
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