Just days after the Melisron Malls group published excellent financial statements, BIG Shopping Centers is publishing reports that are no less impressive, demonstrating that consumers continue to flock to shopping centers.
The company, managed by Hay Galis and owned by the Yehuda Naftali family, earned NIS 366.3 million in the second quarter of 2026, a 47.2% increase compared to the corresponding quarter last year. Revenue for the quarter decreased from NIS 662 million to NIS 648 million. The profit surge was primarily driven by an increase in the fair value of investment real estate, offset by a transition to a loss from exchange rate differences. The mall occupancy rate stands at 100%. Shareholders' equity totaled NIS 13.4 billion.
In the first half of 2026, the company under Galis's management earned NIS 548.5 million, compared to NIS 671.6 million in the first half of 2025. The decline in profit stems from the weakening of the euro and a drop in the growth of real estate asset value this quarter. Revenue for the half-year totaled NIS 1.27 billion, compared to NIS 1.29 billion in the first half of 2025.
The company is continuing the development of its shopping centers, led by BIG Fashion Glilot, which opened a year ago, BIG Fashion Ashkelon, set to open in 2028, and the commercial center in Petah Tikva, which is expected to open in 2029. In addition, the company is developing BIG Fashion Ness Ziona, construction of which is expected to be completed in 2030. Furthermore, the company continues to expand its operations in Europe, with an emphasis on Poland, supplemented by two major acquisitions completed year-to-date: An office complex in the Czech Republic and a portfolio of shopping centers in Romania for over €400 million.