One year after first raising bonds on the Tel Aviv Stock Exchange (TASE), residential construction developer Reisdor, controlled and managed by businessman Yaki Reisner, is preparing for an initial public offering (IPO) on the TASE, “Globes” has learned. Reisdor is preparing a roadshow in the capital market in about a month, based on its first quarter results.
Estimates are that Reisdor will try to raise about NIS 400 million at a company valuation of NIS 2-2.2 billion, before money. The valuation is expected to be derived from a multiple of 2.5-2.7 on the company’s equity (NIS 810 million), while in the Tel Aviv Construction Index, companies are trading at a higher average capital multiple of 3 (after a 19% increase in the index since the beginning of the year).
The valuation of Reisdor in the IPO, if it goes ahead, also depends on market conditions in the coming weeks and mainly on the question of whether the Governor of the Bank of Israel will cut interest rates soon, which will ease the situation for companies in the industry.
If the move is successfully completed, Reisner will follow the path of a number of residential construction developers who held an IPO, after issuing bond series, which allowed market players to become familiar with them. Among the companies that have gone down this route are Amram Avraham Group, Av-Gad and AFI Capital Real Estate. In June 2025, Reisdor raised approximately NIS 200 million in a bond issue on the stock exchange.
19% jump in operating profit
Reisdor ended 2925 with relatively positive financial results, at a time when construction companies are suffering from the high interest rate environment and the halt in the financing deals by builders that were making it easier for the public to buy apartments. The company reported revenue of NIS 562 million, only slightly down from 2024 following a decrease in apartment sales that was largely offset by a jump in income from rents and human resources services.
Reisdor’s operating profit jumped about 19% to NIS 214 million, due partly to a sharp increase of more than 3 times in the value of investment real estate that the company reported last year (NIS 103 million), due to the revised valuation of its income producing assets in Ganei Azar, Rosh HaAyin and Sderot. Reisdor’s net profit jumped 38% to NIS 183 million last year, an increase that also resulted from a shift to financing income. This is due, among other things, to the revaluation of a loan the company made for real estate in Beitar Illit, where a city building plan was approved and a contract for the sale of the land was signed.
Construction throughout Israel
Reisdor was founded by chairman and CEO Yaki Reisner 21 years ago. The company has built over 1,900 apartments since its establishment and 26,000 square meters of commercial space in cities around the country. The company builds apartments throughout Israel, with an emphasis on homes for the haredi sector in Elad and Bnei Brak. But also in cities such as Afula, Netivot, Sderot and Kiryat Gat (Carmei Gat).
The company also specializes in urban renewal projects and owns income-producing properties that it has built. As of the end of last year, the company is initiating approximately 8,000 housing units for construction throughout the country. Of these, 7,600 are apartments for marketing, 21.3 thousand square meters of commercial space and another 142 thousand square meters of office space.
Reisner was born in Bnei Brak to a Lithuanian haredi family. In his youth, he studied in yeshiva, but real estate development has been burning in him since childhood, as he previously said in a podcast: “When you can’t study all day, you think about other things. Development is something innate, and the ability depends on your personality and the way you develop it. I imagined tractors and trucks maybe from third grade. You come home as a child, stop by construction sites and look and follow.” At Reisdor, Reisner initially focused on building apartments for the haredi community (including in Harish, Givat Shmuel, Elad and Bnei Brak), but over the years the company expanded its activities and today it builds all over the country, with an emphasis on peripheral cities. In parallel with his life as a real estate developer, he is involved in film and television production. His salary at Reisdor was NIS 4.8 million last year.
Published by Globes, Israel business news – en.globes.co.il – on May 10, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
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