Fox will build a huge complex of logistics, commerce, and offices in the city of Beit Shemesh

Another huge deal in Beit Shemesh: Fox has announced to the stock exchange its intention to establish a business center in Beit Shemesh, which will coordinate the company’s logistics and distribution activities, along with an office and commercial building, which will serve the company and its subsidiaries in the Fox Group.

The company’s reports to the stock exchange indicate that the company intends to make a huge investment, and establish the center in cooperation with Mega Or and the Weil family, who jointly own land of about 140 dunams in the city of Beit Shemesh.

A total of 80,000 square meters of construction is expected to be built as part of the first phase, with most of the area devoted to the company’s logistics and distribution activities, which are currently spread over several centers throughout the country.

The estimated cost of the project is over half a billion NIS, which will be carried out jointly by the three companies.

The deal joins a series of large deals in the field of income-producing real estate that have been made in the city of Beit Shemesh in recent months, and mark it as a hot destination among investors, both in the logistics industries and in the field of real estate and offices.

Located in the area next to the Hartuv industrial area (formerly known as Nesher), one of the first industrial areas in the city. The land is owned by the Weil family, who purchased the plant and land from Nesher in 2015, as part of the Israel Antitrust Authority (IAA) decision. Alongside the factory, the Sorek industrial park was established in the 1990’s by the Beit Shemesh Municipality, which houses dozens of dunams of small factories and garages.

Mayor Dr. Aliza Bloch: “This is a big news for the city of Beit Shemesh, when another company chooses to expand its activities in the city. In the last year I have had a number of conversations with Mr. Wiesel, and I am happy for him that he has chosen Beit Shemesh as the right place for him to develop and grow his company. The city under my leadership will assist in anything required.”