Israel Canada Intragroup Deal: Subsidiary to Manage New Flagship Hotel in Jerusalem
Israel Canada Group, a leading player in the national real estate market, has announced an intragroup transaction for the realization of a new flagship hotel in the heart of the city.
According to official reports, the company sold the development rights for the hotel within the *Midtown Jerusalem* project to its subsidiary, Israel Canada Hotels. The transaction is valued at 265 million NIS (excluding VAT).
This deal establishes a clear division of roles within the group: the development arm will continue the construction of the hotel, while Israel Canada Hotels will focus on its operational management and exploitation.
The future *200-room hotel* will be integrated into one of the 40-story towers of the Midtown mixed-use complex. Located at the intersection of Jaffa and Agripas streets, the project aims to become Jerusalem’s new business and tourism hub.
