CEO of Yisudot Aitanim: Urban renewal is a mission of a life-loving state, and there is also Zionism

Omer Himovitz, managing director of the real estate company Yesudot Aitanim, discussed his company’s development strategy in an interview with editor-in-chief Carmela Cooper on the program “Magdilim.” Speaking from a perspective of more than three decades in the industry, beginning in 1992, Himovitz described his transition from sales to the entrepreneurial sector. He characterized the current market conditions as less catastrophic than public perception suggests, noting that the market ultimately corrects itself. He contrasted the present situation with the severe stagnation of construction and sales during the second Intifada, asserting that while sales may be sluggish, activity continues.

Himovitz explained the rationale behind the company’s focus on peripheral areas, ranging from Shlomi in the north to Kibbutz Sufa in the south. He stated that when the company began its entrepreneurial phase, the founders lacked prior experience in development and could not compete on capital alone. Consequently, they sought unique opportunities in the periphery. He described the decision to build in these regions as driven by a combination of business interests and a belief in the value of the north and south as significant parts of the land. He noted that the company is currently building in Shlomi, Sufa, Be’er Sheva, Migdal HaEmek, Karkur, and Rehovot.

The interview addressed the ongoing debate regarding additional square meters in demolition-reconstruction projects. Himovitz argued that this debate misses the true objective, which he defined as the protection of life. He framed urban renewal as a national task for a state that values life, explicitly linking the endeavor to Zionism. He suggested that the focus on incremental square meters distracts from the broader goal of safeguarding residents.

Himovitz reflected on the emotional impact of his work, describing moments when he pauses in the evening near a completed project. He mentioned looking at the lights on in the windows and smiling to himself, indicating a sense of fulfillment in seeing people inhabit the spaces his company has built. This personal observation underscored his view of real estate development as a service to the community rather than merely a financial transaction.

The discussion highlighted the intersection of economic activity and national identity in Israeli real estate. By choosing to develop in the periphery, the company aligns its commercial goals with a stated commitment to strengthening these regions. Himovitz’s comments suggest that the motivation extends beyond profit, incorporating a sense of duty to the land and its inhabitants. This perspective positions urban renewal as a civic responsibility that supports the vitality of the state.

In the context of public discourse, the interview offers a counter-narrative to perceptions of a collapsing market. Himovitz’s assessment of the industry’s resilience provides a factual basis for evaluating current conditions. His emphasis on the long-term perspective, spanning from 1992 to the present, offers context for understanding market fluctuations. The interview serves as a record of industry leadership’s view on the balance between economic viability and national development goals.

The principles of stewardship and care for the community are evident in the company’s approach to urban renewal. The focus on protecting life and building in underserved areas reflects a commitment to the well-being of residents. This aligns with the broader theme of serving the public good through responsible development. The interview illustrates how business decisions can be informed by values that prioritize human welfare and national cohesion.

Source: Read the original report