Mega Or NIS buys Alliance Tire site in Hadera for $1B cash
Mega Or (TASE: MGOR), the income-producing real estate company controlled by Zahi and Efrat Nahmias,
reported today that it had purchased the former Alliance Tire Company factory site in Hadera for NIS 1 billion in cash. Following the announcement, the company’s share price rose sharply, closing 7.06% higher. The stock is expected to enter the Tel Aviv 35 list in the next revision of the Tel Aviv Stock Exchange index on May 7.
Related Articles
Alliance Tire faces layoffs and closures
To provide data center services to Mega or Nebius
Nvidia is in talks with MegaOr to build a massive data centre.
According to market sources, Mega Or plans to build one of Israel’s largest data centres at the site.
A plot of 180 dunams (45 acres) in the Hadera Industrial Zone was for 75 years the site of the Alliance Tire Company, which produced specialised tyres for agriculture and industry that were exported to dozens of countries. The factory closed at the end of 2024.
The purchase was made by Mega or its subsidiary Mega DC, which currently manages seven data centres in various stages: six are under construction while the seventh, in Modi’in, is operational. The total output of these centres will be 314 MW, which will serve technology giants like Nvidia. In January this year, Mega DC reported that it would provide 80 MW of data centre services to Dutch company Nebius at two facilities in Masmia and Beit Shemesh for a total investment of $800 million.
Lior Wieder, investment manager and analyst, founder and CEO of investment consultancy Profit Multiplier, said, “The strategic location of the land next to Road 4 and the complex energy infrastructure already in place on the site represent important assets for the construction of a data centre, as they significantly shorten the usual timetable. This purchase is a great statement of Mega’s intent in relation to its desire to achieve dominance in data centres. FThe sector expects a significant investment in cash during these challenging times.There is a powerful expression of confidence in the potential. The economic investment justification is strong, and it will become one of the main growth engines of the group in the coming years.
