JEC’s assets are comprised of over 3.7 million sq.m. of income-generating properties that are leased to more than 7,975 tenants with an average occupancy rate of 90.11%. The company rents properties in the high-tech, office and industrial sectors and is also active in the retail and residential markets. JEC generated over NIS 304 thousand rental income in the period ended March 31, 2009.

Building Jerusalem
JEC was established in 1948 as a government-owned company in order to develop the industrial areas of Jerusalem, Israel’s capital. The company’s shares have been traded on the Tel Aviv Stock Exchange (TASE) since 1987. Despite the expansion of its activities throughout Israel and in recent years world-wide, JEC remains the largest and leading real estate enterprise in the Jerusalem region.

Fishman Group
In 1989, JEC was privatized and acquired by the Fishman Group, one of Israel’s largest and most renowned private investment concerns with an active presence throughout Israeli society. The Group is involved in a diversified range of businesses: the retail, telecom, industrial, venture capital and media sectors as well as real estate. In 1993, JEC acquired control over Industrial Buildings Corporation Ltd. (IBC), the largest real estate company in Israel in terms of property area. JEC has a controlling 71.58% holding in IBC, which is also traded on the TASE.

Extensive Experience
JEC enjoys enormous financial strength and possesses extensive experience in real estate endeavors. This experience has been accumulated over the years and is expressed in the design, construction and management of the diverse range of complex property projects in which JEC is involved.

International Operations
The company has acquired income-producing assets in Canada and the US, Portugal, France, the Netherlands, Switzerland, Germany, Poland, Russia and India. Overall, the company holds about 1.9 million sq.m. of assets overseas and these properties account for about 65% of the company’s income. JEC’s international assets are comprised of dozens of properties including offices, retail projects (shopping malls) and logistics centers.

Main Subsidiaries
Industrial Buildings Corporation Ltd. (71.58%): Israel’s largest real estate company with 1.94 million sq.m. of real estate in Israel and abroad.
Mirland Development Corporation PLC (53.11%): The company, traded on London’s AIM, concentrates on development projects in Russia.