The company had liquidity of 2.56B NIS at the end of Q3, compared to 1.48B NIS in the respective period last year. Last February, Gav Yam raised 777M NIS at an average duration of 5.7 years and a negative linked interest of -0.01%. It performed two rounds of 553 and 3535M NIS in August with an average duration of 8 and 5.2 years, respectively, and an NIS interest of 2.23% and linked interest of 1.03%. The Matam round in July totaled 250M NIS at an average duration of 4.7M NIS and NIS interest of 1.98%.

Gav Yam CEO Avi Jacobovitz told Calcalist that “Corona did not pass over anyone. At Gav Yam, without knowing that Corona was coming, we were prepared. We are a very conservative company and everything we do is measured. It’s a kind of iron dome. We currently have planned projects that we haven’t begun to execute, like Holon and Rehovot. There are projects where we sense a strong demand, like Matam Haifa or Raanana. We want to move up the timetables. Gaining 18 months in planning a large project means time and eventually means money. We are currently focusing on logistics, turning over every stone nationwide for this purpose”.

Relating to the predicted end of the office bonanza, Jacobovitz says: We are experiencing demand from large international and Israel companies, and conducting negotiations for renting tens of thousands of meters – some of the discussions are in advanced stages. People work from home in some of the companies, but they do not surrender having a physical presence. R&D centers operate around the clock and hi-tech continues to be the growth engine for large companies in the office world”.

Making a fine profit on Gav Yam is Aaron Frenkel. The company reported on 29 July that Frenkel became a stakeholder therein after purchasing shares for 170.4M NIS and attaining holdings of 8.6%. The share price at the time was 20.9 NIS and has since increased by 7.4% as of yesterday. Frenkel has increased his holdings in Gav Yam and, as of the current reporting date, holds 10.3% of its shares. The market value for his holdings were estimated at 494M NIS yesterday, when trading began.