Shikun & Binui

שיכון ובינוי

Shikun & Binui, entrepreneur et promoteur coté à Tel-Aviv contrôlé par Natti Sidoff, détient deux lots locatifs longue durée à Eshkol via le programme gouvernemental Dira LeHaskir : 324 logements sur le lot 109, achetés environ 830 M₪ en 2021, et 511 sur le lot 106, achetés environ 1,18 Md₪ en avril 2022. Le lot 109 a reçu un permis de construire complet en décembre 2025 et doit être achevé en septembre 2028 ; la conception révisée du lot 106 a été approuvée le 10 septembre 2025. Après avoir déprécié les deux projets de plus de 1,3 Md₪, l'entreprise a accepté sur le principe en février 2026 de les fusionner dans une coquille cotée pour environ 270 M₪. Elle a aussi remporté le lot Nord 3203, 185 logements à vendre, pour 315,7 M₪ en mars 2025, sans nom public ni commercialisation.

La société

Raison sociale: Shikun & Binui Ltd שיכון ובינוי בע"מ
Fondée en: Roots in Solel Boneh, founded 1924, and Shikun Ovdim, founded 1933, both Histadrut bodies. Privatised in 1996.
Fondateurs: The Histadrut labour federation, through Solel Boneh (1924) and Shikun Ovdim (1933).
Siège: Airport City, Lod
Cotée: TASE: SKBN
Actionnariat: Public. Controlled by Natti Sidoff with about 34.9 per cent (Calcalist, 17 February 2026). Chief executive Amit Birman since mid-2024, after Tamir Cohen resigned.
Taille: Market capitalisation between ₪10.4B and ₪10.55B. For 2025: revenue ₪9.30B and net profit ₪96.0M. Active in about 20 countries. About 2,000 rental homes, with rental-property impairments of ₪198M in the first nine months of 2025 and liabilities of about ₪19B (Globes and Nadlan Center, 11 December 2025). It also owns a separately traded subsidiary, Shikun & Binui Energy.
Ailleurs: A citywide long-term rental pipeline of 3,613 units across Sde Dov, Neve Ofer, HaMishtala and Derech HaShalom
À ne pas confondre avec: Shikun & Binui Real Estate (שיכון ובינוי נדל"ן), a 78 per cent-held subsidiary, won North lot 3203 and co-owns, with the parent, Shikun REIT (ריט ש.ב. נדל"ן), which holds the two Eshkol rental projects. Coverage calls lot 109 "Sde Dov A" and lot 106 "Sde Dov B". Shikun & Binui Energy is a separately listed company.

Ce qu'un acheteur étranger doit savoir

Lots 106 and 109 are Dira LeHaskir long-term rental stock: 835 homes let for at least 20 years, half of them at controlled rents for eligible tenants. They are not for sale. In December 2025 the company petitioned the High Court to amend the Vatmal planning law, which allows only unified ownership, so that it could sell some rental homes to individuals; the rental period also ends after 20 years. North lot 3203, 185 homes, is ordinary for-sale housing with no public marketing yet.

Ce qu'elle a payé, et pour quoi

Chaque acquisition enregistrée dans le quartier, avec sa source.

Dira LeHaskir, Eshkol lot 1092021-12
lot 109324 logements₪829.8M
About ₪830M including development: ₪793M for the land plus ₪36.8M development (Ynet). Long-term regulated rental, not homes for sale. Date reported as December 2021 by most sources and August 2021 by two.
Dira LeHaskir, Eshkol lot 1062022-04-10
lot 106511 logements₪1.18B
About ₪1.176B including development, about ₪2.3M per home. Long-term regulated rental, 255 homes at controlled rents; about 3,000 sqm retail and 800 sqm public buildings on about 9,100 sqm.
North district, tender 267/20242025-03-26
lot 3203185 logements₪350M
About ₪350M with development (Nadlan Center); ₪315.7M for the land alone. Won alone, not with Shapir.

Timeline

Won lot 109, 324 long-term rental homes (Dira LeHaskir), for about ₪830M including development, 2021
Won lot 106, 511 long-term rental homes (Dira LeHaskir), for about ₪1.176B including development, 10 April 2022
Raised about ₪1B of financing for lot 106 from Menora, Migdal and Bank Hapoalim, July 2022
Won North lot 3203 (185 homes) alone, 26 March 2025
Lot 106 design plan approved, 10 September 2025
Full building permit for lot 109, December 2025; completion expected September 2028
Memorandum to merge Shikun REIT into the listed shell Continual at about ₪270M, February 2026; tax ruling April 2026; no binding agreement as of 22 July 2026

Au dossier public

Des faits publiés qu'un acheteur voudra connaître avant de signer, chacun sourcé.

Lot 106 is on the Environment Ministry's PFAS list

In July 2026 the Environment Ministry named, for the first time, the nine Sde Dov plots where investigations found indications of PFAS in soil or groundwater: 103, 105, 106, 107, 301, 303, 2102, 2206 and 2207. Shikun & Binui's lot 106 is among them. The ministry said the results will be published once the investigation reports are approved, so what remediation is required, if any, is not yet known. Anyone signing for space here should ask what the contract says about it.

Globes: the nine Sde Dov plots with PFAS indications are named2026-07-23

The rental projects were written down by more than ₪1.3B

The two Eshkol rental projects cost more than ₪2B and were valued at ₪2.5B at the end of 2022; valuations attached to the 2024 accounts put them at ₪1.2B together. Calcalist puts the loss on them at more than ₪1.3B, Globes at about ₪1.5B. Natti Sidoff told Calcalist in June 2024 the purchase had been "idiotic". In February 2026 the company signed a non-binding memorandum to merge Shikun REIT, which holds both projects and about ₪1B of related debt, into the dormant listed shell Continual at a value of about ₪270M, with Shikun & Binui keeping about 89 per cent. A tax ruling was received in April 2026; on 22 July 2026 the company asked for an extension and said there was no certainty a binding agreement would be signed.

Là où les sources divergent

Des chiffres publiés qui ne concordent pas. Les deux lectures sont données.

When did Shikun & Binui win lot 109?

August 2021
- Globes: first building permit for a rental project at Sde Dov (lot 109, Muhlbauer Architects, completion September 2028)2025-12-11
August 2021
- Nadlan Center: Shikun & Binui receives full permit for 324 rental homes at Sde Dov2025-12-11
December 2021
- Nadlan Center: Shikun & Binui wins a Dira LeHaskir tender at Sde Dov (511 homes); "in December" won 324 homes for ₪830M2022-04-11
December 2021
- Calcalist: Shikun & Binui, how the Sde Dov projects lost ₪2B of value in four years2026-02-17

The 2022 coverage of the second win and Calcalist's 2026 history both say December 2021; the December 2025 permit stories say August 2021, possibly confusing the win with the first-tender month. December 2021 is the better-supported date.

How tall is the lot 109 tower?

38 storeys and two 8-storey buildings
- Globes: first building permit for a rental project at Sde Dov (lot 109, Muhlbauer Architects, completion September 2028)2025-12-11
A tower of up to 40 storeys and two buildings of up to 9 storeys (the plan's maximum rights)
- Tel Aviv municipality: lot 109 design document

The municipal figures are the maximum the plan allows; the permitted design is 38 and 8.

Dans la presse

28 Jul 2026Globes
Buyers in Sde Dov projects are writing cancellation clauses into their contracts
Globes: apartment buyers in district projects are adding cancellation clauses to purchase contracts because of the PFAS findings. The Environment Ministry told Globes that all nine plots with PFAS indications are earmarked for housing and that sampling results will be published once the investigation reports are approved. Globes names Dimri, Shikun & Binui, Gindi Holdings, Mivne and Prashkovsky among the companies involved; some developers say the ministry has already confirmed that their land is clean.
23 Jul 2026Globes
The nine Sde Dov plots with PFAS indications are named for the first time
Globes: the Environment Ministry named the nine plots where PFAS indications were found: 103, 105, 106, 107, 301, 303, 2206, 2207 and 2102. Globes matched them to developers, among them lot 103 (Nahmias, UTOPIA), lot 107 (Y.H. Dimri, DIMRI YAMA), lot 2206 (Gindi Holdings), lot 106 (Shikun & Binui), lots 2207 and 2102 (Prashkovsky) and lot 301 (Hadas Capital). The ministry said results will be published once the investigation reports are approved.
26 Mar 2025Calcalist
Sde Dov: Tshuva, Melisron and others bought plots for 2,750 apartments for NIS 4.6B
North-complex tenders close. Ynet and Nadlan Center put the wave at 2,744 units and ₪4.59B; Calcalist rounds it to 2,750 homes and ₪4.6B.
26 Mar 2025Nadlan Center
Results published for the giant tender to build ~2,800 apartments in Sde Dov
Nadlan Center publishes the North-tender winner table, including Dimri, Melisron/Aviv, Tashluz, Mediterranean Towers, and Shikun & Binui + Shapir.

Sources

Tout ce qui figure sur cette page vient de l'une d'elles.

Se renseigner sur les projets de Shikun & Binui

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