Israel Canada
Corporate brand
UnclaimedAn Israeli real estate development group focused on premium residential, mixed-use, commercial, office, hotel and urban-renewal projects.
Last updated October 14, 2026
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Overview
Israel Canada, formally Israel Canada (T.R) Ltd., is an Israeli real estate development and investment company listed on the Tel Aviv Stock Exchange. The group is associated with co-founders Barak Rosen and Asaf Touchmair, who acquired a publicly traded shell company in 2006 and subsequently reshaped it into the Israel Canada business. The company operates primarily in Israel, with activities extending into hospitality and selected overseas real estate investments. The group's core business is the development of higher-end residential and mixed-use properties in strategically located urban areas, especially in central Israel. Its portfolio and development pipeline have included luxury apartment towers, office campuses, retail components, hotels, retirement facilities and large-scale urban-renewal schemes. The company has been particularly prominent in Tel Aviv and its surrounding metropolitan area, where it became a major developer in the Tzamarot Ayalon neighborhood. Its W-branded towers helped establish the company as a developer of tall, premium residential buildings, while later projects such as Midtown Tel Aviv combined homes, offices and street-level commercial space. Israel Canada's expansion has not been limited to individual apartment projects. The company has acquired or pursued substantial land reserves, including land near the Glilot interchange, sites in Hod Hasharon and northern Tel Aviv, and development opportunities at prominent locations in Jerusalem. Several projects have been structured around the redevelopment of large urban sites into combinations of residences, offices, hotels and retail. The business therefore combines land acquisition, planning, construction coordination, sales and investment management rather than relying solely on one-off residential developments. The group broadened its platform through corporate acquisitions and affiliated businesses. In 2020, Israel Canada and the Nakash Brothers Group acquired Minrav Projects, a construction and real estate company. The resulting residential platform became Israel Canada Residence, commonly known as ICR. Israel Canada also established Israel Canada Hotels in 2019, building a hospitality portfolio that has included hotels and holiday properties in Israel. Its hotel strategy later included proposed acquisitions of Tamaras properties, the planned Four Seasons project in Tel Aviv and the proposed acquisition of Brown Hotels. In 2022, Menora Mivtachim acquired a minority stake in the hotel subsidiary. Another expansion route has been commercial property investment outside Israel. In 2022, Israel Canada acquired Aviv Arlon and renamed it Canada Global, repositioning the company toward commercial real estate investments abroad. Canada Global later attracted investment from Flow, associated with Adam Neumann and Andreessen Horowitz, and from Wiz founder Assaf Rappaport. It also announced a planned acquisition of an office complex in Aventura, Florida, with approved plans for residential towers and commercial space. Israel Canada has additionally pursued strategic stakes in public real estate companies. In 2022, it acquired a substantial interest in Norstar, the controlling shareholder of Gazit-Globe, and launched a takeover bid. The group has also entered adjacent fields, including retirement living through the purchase of Neve Aviv Retirement Home and technology-oriented investments through Israel Canada Tech Investments. The latter targets property technology, construction technology and renewable-energy ventures. The company presents itself as a developer of landmark properties in prime locations, with a focus on premium design, high-density urban development and integrated real estate environments. Since the 2021-2022 season, it has sponsored Maccabi Tel Aviv Football Club, adding a visible sports-marketing element to its corporate profile. Israel Canada remains an active listed Israeli property group, although the extent and status of individual projects, subsidiaries and proposed transactions can change over time.
History
Israel Canada emerged in 2006 when Barak Rosen and Asaf Touchmair acquired a publicly traded shell company on the Tel Aviv Stock Exchange, then known as Pangaya Real Estate. The transaction gave the founders a listed platform from which to assemble a real estate development business. In 2007, Brevan Howard acquired a minority interest in Pangaya through a capital raise. The company later changed its name to Israel-Canada, reflecting the identity under which the group became known. The company's early development strategy centered on premium urban housing. In 2006 it began construction of the W Tower in the Tzamarot Ayalon neighborhood of Tel Aviv. Completed in 2010, the tower was described as Israel's tallest residential building at the time. Israel Canada subsequently developed additional high-rise projects in the same district, including W Boutique Tower, W Prime and Rom Tower. This concentration made the company a significant developer in one of Tel Aviv's affluent residential areas. During the middle of the 2010s, Israel Canada pursued larger land positions and increasingly complex development opportunities. In 2015 it acquired interests and land from Paz Oil Company at the Pi Glilot complex near the Glilot interchange. The transaction added a substantial redevelopment opportunity in a strategically located part of the Tel Aviv metropolitan area. In 2017 the company raised capital from Israeli institutional investors. In the following year it entered the TA-125 Index, reflecting its position among significant companies traded in Tel Aviv. Israel Canada's mixed-use ambitions became especially visible through Midtown Tel Aviv. Completed in 2018, the project combined two tall towers, residential units, offices and a street-level commercial complex. The development was followed by promotion of a similar Midtown concept in Jerusalem. The Jerusalem scheme, associated with the Shaare Zedek area, received approval in early 2023 for a large project incorporating apartments, offices and a hotel at the planned western entrance to the city. The group also became active in commercial and technology-oriented real estate. It completed the Wix project in 2019, creating a large campus for the technology company, and opened Microsoft House Sea Tower in Herzliya in 2020 as a new research and development center for Microsoft Israel. These projects demonstrated a business model extending beyond apartment sales into institutional office development and build-to-suit facilities. A major structural change occurred in 2020, when Israel Canada and the Nakash Brothers Group acquired Minrav Projects. Minrav had been a prominent Israeli construction and real estate company. After the transaction and subsequent restructuring, the residential platform became Israel Canada Residence, or ICR. Through ICR, the group expanded its participation in residential development and urban renewal, including a substantial Kiryat Hayovel project in Jerusalem. From 2021 onward, Israel Canada continued to accumulate land and diversify its investments. It won tenders in Hod Hasharon and northern Tel Aviv involving hundreds of planned homes and a major apartment reserve. It also created Israel Canada Tech Investments, targeting startups and companies connected to property technology, construction technology and renewable energy. In parallel, the group expanded into hospitality through Israel Canada Hotels, established in 2019. Its hotel platform included properties in locations such as Tiberias, Tel Aviv, Ashdod, the Dead Sea and Eilat. The company pursued additional hotel acquisitions and announced a planned Four Seasons project in Tel Aviv. Menora Mivtachim later acquired a minority stake in the hotel subsidiary, while Israel Canada Hotels announced a proposed acquisition of Brown Hotels and its associated brands. Israel Canada also used acquisitions to build an investment presence in commercial real estate. In 2022 it acquired Aviv Arlon, which was renamed Canada Global and redirected toward investments outside Israel. Canada Global subsequently announced an investment involving Flow and Assaf Rappaport, followed by an announced acquisition of an office complex in Aventura, Florida, where residential and commercial redevelopment was planned. The group has pursued corporate influence as well as direct development. In 2022, Rosen and Touchmair led the acquisition of a large stake in Norstar, which controls Gazit-Globe. Israel Canada then launched a takeover bid for Norstar. The move connected the group to a broader international portfolio of income-producing commercial properties. Israel Canada remains a listed Israeli real estate group whose activities span development, construction partnerships, hotels, senior living, land investment and international property. Its public profile is built around high-value urban projects and landmark towers, while its corporate strategy has progressively added operating businesses and investment platforms. The company has also maintained a public-facing sponsorship relationship with Maccabi Tel Aviv Football Club since the 2021-2022 season.
- 2024
Aventura redevelopment announced
[1]Canada Global announced an office-complex acquisition in Aventura, Florida, with plans for residential towers and commercial space.
- 2023
Midtown Jerusalem receives approval
[1]A large mixed-use Midtown Jerusalem plan near Shaare Zedek received approval.
- 2022
Norstar investment and takeover bid
[1]Israel Canada acquired a major Norstar stake and launched a subsequent bid for control.
- 2022
Canada Global is created
[1]Aviv Arlon was acquired and renamed Canada Global as a platform for international commercial real estate investment.
- 2021
Israel Canada Tech Investments is established
[1]The group created an investment arm for property technology, construction technology and renewable-energy opportunities.
- 2020
Minrav Projects acquisition
[1]Israel Canada and the Nakash Brothers Group acquired Minrav Projects, later forming the basis of ICR.
- 2019
Wix campus project is completed
[1]Israel Canada completed a large campus project for Wix.
- 2018
Midtown Tel Aviv is completed
[1]The mixed-use Midtown Tel Aviv project combining residential, office and commercial components was completed.
- 2015
Pi Glilot land acquisition
[1]The company acquired land and related interests from Paz Oil at the Pi Glilot complex near the Glilot interchange.
- 2010
W Tower is completed
[1]Israel Canada completed the W Tower in Tzamarot Ayalon, one of the company's defining early residential projects.
Products and positioning
A premium, urban-focused Israeli real estate developer and investment group known for landmark towers, mixed-use projects, large land acquisitions and expansion into hospitality, technology-linked investments and international commercial property.
Residential tower · 2006
W Tower
A landmark luxury residential tower in Tel Aviv's Tzamarot Ayalon neighborhood. Completed in 2010, it was described as Israel's tallest residential building at the time and became the first of several Israel Canada high-rise projects in the district.
Residential towers
W Boutique Tower, W Prime and Rom Tower
A group of subsequent residential skyscraper developments in Tzamarot Ayalon. Together with W Tower, these projects reinforced Israel Canada's role as a major developer of premium housing in one of Tel Aviv's affluent neighborhoods.
Mixed-use development
Midtown Tel Aviv
A large urban complex on Begin Road combining two high-rise towers, residential units, offices and a street-level commercial center. The project represents Israel Canada's integrated approach to dense, transit-oriented metropolitan development.
Mixed-use development
Midtown Jerusalem
A planned development near Shaare Zedek in Jerusalem incorporating approximately 1,000 apartments, offices and a hotel. The scheme is associated with the planned redevelopment of Jerusalem's western entrance.
Technology campus · 2019
Wix campus
A large office and technology campus developed for Wix and completed in 2019. The project illustrates the company's build-to-suit and institutional office capabilities in addition to its residential work.
Office development · 2020
Microsoft House Sea Tower
An office project in Herzliya developed as a research and development center for Microsoft Israel. The project expanded Israel Canada's presence in technology-oriented commercial real estate.
Hotels and hospitality · 2019
Israel Canada Hotels
The group's hospitality platform, established in 2019, owns or manages hotels and holiday properties in Israel. Properties associated with the platform have included Galei Kinneret, Lake House, Nofey Gonen, Play Midtown, West Tel Aviv, West Ashdod, Daniel Dead Sea, Soleil Eilat and Play Hayarkon.
Residential development platform · 2020
Israel Canada Residence (ICR)
The residential platform formed through the combination of Israel Canada and Minrav Projects. ICR focuses on residential development and urban renewal, including projects such as the Kiryat Hayovel scheme.
International real estate investment platform · 2022
Canada Global
A platform created after Israel Canada acquired and renamed Aviv Arlon in 2022. Canada Global invests in commercial real estate outside Israel and has pursued projects in markets including the United States.
Marketing campaigns
- 2021Maccabi Tel Aviv Football Club sponsorship
Israel
Israel Canada became the official sponsor of Maccabi Tel Aviv Football Club beginning with the 2021-2022 season, linking the real estate group to one of Israel's most prominent sports properties.
Outcome. The sponsorship established an ongoing public brand association between Israel Canada and Maccabi Tel Aviv.
Brand decisions
2022
Investment in Norstar and takeover bidM&ABackground
Norstar was the controlling shareholder of Gazit-Globe, an international real estate company with a substantial income-producing property portfolio.
Action taken
Israel Canada acquired a 22.6 percent stake in Norstar and later launched a takeover bid.
Aftermath
The move expanded Israel Canada's exposure to international commercial real estate and public-company control transactions.
2022
Expansion into retirement livingStrategyBackground
Israel Canada sought to diversify its property operations into managed senior-living assets.
Action taken
The company acquired Neve Aviv Retirement Home in Kfar Shmaryahu.
Aftermath
The acquisition added a retirement and nursing-home activity to the group's development and hospitality portfolio.
2022
Proposed acquisition of Brown HotelsM&ABackground
Israel Canada Hotels aimed to increase the scale and geographic reach of its hospitality business.
Action taken
The hotel subsidiary announced a proposed acquisition of Brown Hotels, including the Brown and Lighthouse brands and related operating assets.
Aftermath
The proposed transaction would have materially expanded the hotel platform, although the final status of every element of the transaction requires verification.
2022
Creation of Canada GlobalStrategyBackground
The group wanted a dedicated platform for commercial property investments outside Israel.
Action taken
Israel Canada acquired Aviv Arlon and renamed it Canada Global.
Aftermath
Canada Global became the group's vehicle for international commercial real estate activity.
2021
Creation of Israel Canada Tech InvestmentsStrategyBackground
The real estate group identified technology and sustainability businesses as adjacent growth areas.
Action taken
It established an investment arm targeting property technology, construction technology and renewable-energy companies.
Aftermath
Israel Canada gained a vehicle for minority and early-stage investments connected to the built environment.
2020
Acquisition of Minrav ProjectsM&ABackground
Israel Canada sought to enlarge its residential construction and development capabilities.
Action taken
Israel Canada and the Nakash Brothers Group acquired Minrav Projects and later reorganized the residential business as Israel Canada Residence.
Aftermath
The transaction created a broader residential and urban-renewal platform under the ICR name.
2006
Use of a listed shell to build the Israel Canada platformStrategyBackground
Rosen and Touchmair sought a publicly traded vehicle through which to establish and expand a real estate development company.
Action taken
They acquired Pangaya Real Estate and subsequently changed the company's name to Israel-Canada.
Aftermath
The listed vehicle became the corporate foundation for Israel Canada's later development, acquisition and investment activities.
Sources1 sources
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