Supermarket chain Yochananof (M. Yochananof and Sons (1988) - TASE: YHNF), 68% owned by the Yochananof family, is buying 30% of the rights in land close to Binyamina for NIS 17 million. The aim is to construct a new commercial center that will compete with the nearby Mall Zichron Shopping Center on Road 4 opposite Zichron Yaakov. The commercial center will contain a branch of the Yochananof chain.
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Yochananof bought the rights from real estate company Shai-Hai, owned by Ofer Biton, which mainly operates in the north of Israel, and from other investors.
The land is 17 dunams (4.25 acres) in area, and the commercial center to be constructed on it will have 14,000 square meters of space. Yochananof will need to spend an estimated NIS 16 million on construction.
As far as is known, the intention is to open the site in 2029. There is currently no building permit applicable to the land, and the partners are working to this end.
The deal is part of what can be identified a pattern at Yochananof. In its expansion strategy it has recently acted together with partners in land deals at several places or has brought partners into land it already owns. In a recent deal it bought 19 dunams (4.75 acres) of land at Dimona together with a partner for NIS 30.5 million. Last November it bought 107 dunams (26.75 acres) in Ness Tziona for NIS 27 million plus NIS 5.1 million to a third party for development, with the aim of growing produce for the supermarket chain.
Yochananof has a market cap on the Tel Aviv Stock Exchange of NIS 5.35 billion, Its share price has risen 52% in the past year and 120% in the past three years.
Published by Globes, Israel business news - en.globes.co.il - on February 2, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
