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15800 | Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
It's still too early to gauge the impact of student loan payments on Nike. Its first quarter ended in late August, and payments aren't set to resume until October.
During the quarter, footwear sales rose 4% to $8.4 billion, making up about 68% of Nike's total sales. |
15801 | Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
It's still too early to gauge the impact of student loan payments on Nike. Its first quarter ended in late August, and payments aren't set to resume until October.
During the quarter, footwear sales rose 4% to $8.4 billion, making up about 68% of Nike's total sales. Apparel was down 1% at $3.4 billion. |
15802 | Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
It's still too early to gauge the impact of student loan payments on Nike. Its first quarter ended in late August, and payments aren't set to resume until October.
During the quarter, footwear sales rose 4% to $8.4 billion, making up about 68% of Nike's total sales. Apparel was down 1% at $3.4 billion.
Correction: Nike's gross margin fell 0.1 percentage points. An earlier version of this story misstated that figure. |
15803 | Why Gogoro picked India as its new go-to market
Why Gogoro picked India as its new go-to market The Taiwanese company aims to put billions of dollars into the world's biggest two-wheeler market
Gogoro co-founder and CEO Horace Luke wants to “go big” in India even as the Taiwanese company faces challenges in its home country.
The potential of India, it seems, is simply too ripe to ignore and not just because it’s the world’s biggest two-wheeler market, where 15 million to 20 million new two-wheelers hit the road every year. Luke also sees the world’s most populous country as a launch pad that will accelerate its global expansion in other markets. It’s not a bad tactic, considering India is already on a spree to become a competitive manufacturing hub for all major international brands and products, from smartphones to satellites.
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. |
15804 | Why Gogoro picked India as its new go-to market
The potential of India, it seems, is simply too ripe to ignore and not just because it’s the world’s biggest two-wheeler market, where 15 million to 20 million new two-wheelers hit the road every year. Luke also sees the world’s most populous country as a launch pad that will accelerate its global expansion in other markets. It’s not a bad tactic, considering India is already on a spree to become a competitive manufacturing hub for all major international brands and products, from smartphones to satellites.
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. Talking on the sidelines with Luke at the company’s event, it’s clear his ambitions stretch beyond this initial debut.
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. |
15805 | Why Gogoro picked India as its new go-to market
The potential of India, it seems, is simply too ripe to ignore and not just because it’s the world’s biggest two-wheeler market, where 15 million to 20 million new two-wheelers hit the road every year. Luke also sees the world’s most populous country as a launch pad that will accelerate its global expansion in other markets. It’s not a bad tactic, considering India is already on a spree to become a competitive manufacturing hub for all major international brands and products, from smartphones to satellites.
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. Talking on the sidelines with Luke at the company’s event, it’s clear his ambitions stretch beyond this initial debut.
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. |
15806 | Why Gogoro picked India as its new go-to market
Luke also sees the world’s most populous country as a launch pad that will accelerate its global expansion in other markets. It’s not a bad tactic, considering India is already on a spree to become a competitive manufacturing hub for all major international brands and products, from smartphones to satellites.
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. Talking on the sidelines with Luke at the company’s event, it’s clear his ambitions stretch beyond this initial debut.
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan. |
15807 | Why Gogoro picked India as its new go-to market
Luke also sees the world’s most populous country as a launch pad that will accelerate its global expansion in other markets. It’s not a bad tactic, considering India is already on a spree to become a competitive manufacturing hub for all major international brands and products, from smartphones to satellites.
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. Talking on the sidelines with Luke at the company’s event, it’s clear his ambitions stretch beyond this initial debut.
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan.
The company has picked India as a strategic market from where it can reach a number of new users and enter new markets, starting with neighboring country Nepal, Luke said at the company’s launch in New Delhi. |
15808 | Why Gogoro picked India as its new go-to market
Earlier this month, Gogoro made its first commercial entry into India with the introduction of its battery-swapping network and smartscooters after running pilots and investing millions of dollars in the country. Talking on the sidelines with Luke at the company’s event, it’s clear his ambitions stretch beyond this initial debut.
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan.
The company has picked India as a strategic market from where it can reach a number of new users and enter new markets, starting with neighboring country Nepal, Luke said at the company’s launch in New Delhi.
The new developments are on the heels of Gogoro’s earlier India announcements, including the early battery-swapping pilot in Delhi, a partnership with Belrise Industries to invest a total of $2.5 billion in Maharashtra to build its battery-swapping infrastructure and network in the western peninsular state and $25 million investment in electric fleet management startup Zypp Electric. |
15809 | Why Gogoro picked India as its new go-to market
Founded in 2011 by former HTC executives Luke and Matt Taylor, Gogoro considers itself the Android of all EVs. It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan.
The company has picked India as a strategic market from where it can reach a number of new users and enter new markets, starting with neighboring country Nepal, Luke said at the company’s launch in New Delhi.
The new developments are on the heels of Gogoro’s earlier India announcements, including the early battery-swapping pilot in Delhi, a partnership with Belrise Industries to invest a total of $2.5 billion in Maharashtra to build its battery-swapping infrastructure and network in the western peninsular state and $25 million investment in electric fleet management startup Zypp Electric.
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. |
15810 | Why Gogoro picked India as its new go-to market
It offers its proprietary technology to other automobile manufacturers alongside selling its own branded scooters with swappable batteries. The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan.
The company has picked India as a strategic market from where it can reach a number of new users and enter new markets, starting with neighboring country Nepal, Luke said at the company’s launch in New Delhi.
The new developments are on the heels of Gogoro’s earlier India announcements, including the early battery-swapping pilot in Delhi, a partnership with Belrise Industries to invest a total of $2.5 billion in Maharashtra to build its battery-swapping infrastructure and network in the western peninsular state and $25 million investment in electric fleet management startup Zypp Electric.
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. The company is already working with domestic manufacturers to produce its components locally, which it currently assembles at a facility in Maharashtra in partnership with Foxconn. |
15811 | Why Gogoro picked India as its new go-to market
The company already operates in markets in China, Indonesia, Singapore, Israel and the Philippines — alongside its hometown in Taiwan.
The company has picked India as a strategic market from where it can reach a number of new users and enter new markets, starting with neighboring country Nepal, Luke said at the company’s launch in New Delhi.
The new developments are on the heels of Gogoro’s earlier India announcements, including the early battery-swapping pilot in Delhi, a partnership with Belrise Industries to invest a total of $2.5 billion in Maharashtra to build its battery-swapping infrastructure and network in the western peninsular state and $25 million investment in electric fleet management startup Zypp Electric.
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. The company is already working with domestic manufacturers to produce its components locally, which it currently assembles at a facility in Maharashtra in partnership with Foxconn. It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country. |
15812 | Why Gogoro picked India as its new go-to market
The new developments are on the heels of Gogoro’s earlier India announcements, including the early battery-swapping pilot in Delhi, a partnership with Belrise Industries to invest a total of $2.5 billion in Maharashtra to build its battery-swapping infrastructure and network in the western peninsular state and $25 million investment in electric fleet management startup Zypp Electric.
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. The company is already working with domestic manufacturers to produce its components locally, which it currently assembles at a facility in Maharashtra in partnership with Foxconn. It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country.
The company has about 11 vehicle manufacturers in Taiwan that are building vehicles of different sizes and configurations based on its standard battery size, the executive said. These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. |
15813 | Why Gogoro picked India as its new go-to market
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. The company is already working with domestic manufacturers to produce its components locally, which it currently assembles at a facility in Maharashtra in partnership with Foxconn. It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country.
The company has about 11 vehicle manufacturers in Taiwan that are building vehicles of different sizes and configurations based on its standard battery size, the executive said. These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. |
15814 | Why Gogoro picked India as its new go-to market
Gogoro is in talks with various local and global players to expand its business and presence in India, Luke stated without sharing any names. The company is already working with domestic manufacturers to produce its components locally, which it currently assembles at a facility in Maharashtra in partnership with Foxconn. It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country.
The company has about 11 vehicle manufacturers in Taiwan that are building vehicles of different sizes and configurations based on its standard battery size, the executive said. These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. |
15815 | Why Gogoro picked India as its new go-to market
It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country.
The company has about 11 vehicle manufacturers in Taiwan that are building vehicles of different sizes and configurations based on its standard battery size, the executive said. These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results. |
15816 | Why Gogoro picked India as its new go-to market
It is also looking to partner with Indian and global automobile manufacturers who can deploy its technology, helping to grow its business in the country.
The company has about 11 vehicle manufacturers in Taiwan that are building vehicles of different sizes and configurations based on its standard battery size, the executive said. These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch. |
15817 | Why Gogoro picked India as its new go-to market
These include the likes of Suzuki, Yamaha, and Aeon Motor, among others. He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . |
15818 | Why Gogoro picked India as its new go-to market
He indicated that some of these may come to India along with Gogoro’s swappable battery technology over time.
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. |
15819 | Why Gogoro picked India as its new go-to market
“Everybody’s waiting for me to bring the network,” Luke said without divulging specific details. “Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. |
15820 | Why Gogoro picked India as its new go-to market
“Once the network goes live, [the partners will] bring in their capacity and capability.”
In April 2021, Gogoro partnered with Indian two-wheeler giant Hero MotoCorp to roll out its battery-swapping network in the country. However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. |
15821 | Why Gogoro picked India as its new go-to market
However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. But it’s really a chicken and egg [situation]. |
15822 | Why Gogoro picked India as its new go-to market
However, that deal has not yielded any results.
When asked how Gogoro will utilize its partnership with Hero MotoCorp and why it did not choose the local automobile player for its debut and instead introduced its own range of smartscooters in the country, Luke shared a sketchy response and said the top management of Hero MotoCorp did wish him success before the launch.
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. But it’s really a chicken and egg [situation]. I need to prove that there is a platform that is ready before they actually can go in, come in and do that.”
Mimicking Taiwan model
Gogoro plans to simulate its Taiwan growth in India by launching 30 stations in Delhi by the first quarter of 2024. |
15823 | Why Gogoro picked India as its new go-to market
“[Hero MotoCorp’s] brand and company as a whole is very B2C focused . . . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. But it’s really a chicken and egg [situation]. I need to prove that there is a platform that is ready before they actually can go in, come in and do that.”
Mimicking Taiwan model
Gogoro plans to simulate its Taiwan growth in India by launching 30 stations in Delhi by the first quarter of 2024. The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time. |
15824 | Why Gogoro picked India as its new go-to market
. . As we launch with a B2B focus first, we keep them abreast of all the stuff that’s happening,” he said. “We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. But it’s really a chicken and egg [situation]. I need to prove that there is a platform that is ready before they actually can go in, come in and do that.”
Mimicking Taiwan model
Gogoro plans to simulate its Taiwan growth in India by launching 30 stations in Delhi by the first quarter of 2024. The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time.
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted. |
15825 | Why Gogoro picked India as its new go-to market
“We’re an open platform. One day, they’ll be ready [to] launch a vehicle using our system. But it’s really a chicken and egg [situation]. I need to prove that there is a platform that is ready before they actually can go in, come in and do that.”
Mimicking Taiwan model
Gogoro plans to simulate its Taiwan growth in India by launching 30 stations in Delhi by the first quarter of 2024. The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time.
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted.
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. |
15826 | Why Gogoro picked India as its new go-to market
But it’s really a chicken and egg [situation]. I need to prove that there is a platform that is ready before they actually can go in, come in and do that.”
Mimicking Taiwan model
Gogoro plans to simulate its Taiwan growth in India by launching 30 stations in Delhi by the first quarter of 2024. The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time.
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted.
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws. |
15827 | Why Gogoro picked India as its new go-to market
The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time.
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted.
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws.
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch. |
15828 | Why Gogoro picked India as its new go-to market
The company began its journey in Taipei with the same number of stations but has since expanded to 12,500 stations that serve around 600,000 vehicles throughout Taiwan. It is open to making many more investments in India to reach that level and even grow bigger over time.
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted.
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws.
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch.
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year. |
15829 | Why Gogoro picked India as its new go-to market
“If you think about Pan India, we are talking about several billion dollars easily by 2030–2032,” Luke asserted.
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws.
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch.
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year.
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. |
15830 | Why Gogoro picked India as its new go-to market
He informed reporters at the launch that Gogoro’s battery-swapping system captures 93% of all electric vehicles in Taiwan — of which about 80% use its own branded vehicles. The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws.
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch.
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year.
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. |
15831 | Why Gogoro picked India as its new go-to market
The company is not limited to two-wheelers in its home country but also offers its swapping-battery technology to players that run auto-rickshaws.
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch.
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year.
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. Second, the country took some time to return from the COVID-19 pandemic.
“Taiwan has always been a pilot for us,” Luke stated. |
15832 | Why Gogoro picked India as its new go-to market
Nonetheless, the growth of Gogoro is stagnant and is even dropping in Taiwan, as Luke admitted to TechCrunch.
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year.
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. Second, the country took some time to return from the COVID-19 pandemic.
“Taiwan has always been a pilot for us,” Luke stated. “It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. |
15833 | Why Gogoro picked India as its new go-to market
In its recent earnings report, the Nasdaq-listed company mentioned a 10.2% year-on-year drop in its revenue of $91.8 million, resulting in a net loss of $3.1 million, down from a net income of $56.4 million in the same quarter last year.
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. Second, the country took some time to return from the COVID-19 pandemic.
“Taiwan has always been a pilot for us,” Luke stated. “It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22. |
15834 | Why Gogoro picked India as its new go-to market
He underlined there were a couple of reasons for seeing a decline in its financials and dropping its business in Taiwan. First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. Second, the country took some time to return from the COVID-19 pandemic.
“Taiwan has always been a pilot for us,” Luke stated. “It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22.
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. |
15835 | Why Gogoro picked India as its new go-to market
First, he said, it was due to a lobbying effort against the speed of electric vehicle adoption after the 2020 elections. Second, the country took some time to return from the COVID-19 pandemic.
“Taiwan has always been a pilot for us,” Luke stated. “It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22.
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. |
15836 | Why Gogoro picked India as its new go-to market
“Taiwan has always been a pilot for us,” Luke stated. “It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22.
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. |
15837 | Why Gogoro picked India as its new go-to market
“It has always been a market where we used to develop the technology, develop the system so that when we do come to India, we’re ready. And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22.
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market. |
15838 | Why Gogoro picked India as its new go-to market
And so that’s where the pivot point now is.”
He compared that gasoline in Taiwan has been subsidized to the level that it is available at an average price of 0.85 cents per liter, significantly less than the average price of $1.4 per liter in India, above the global price of $1.22.
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market.
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. |
15839 | Why Gogoro picked India as its new go-to market
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market.
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets. |
15840 | Why Gogoro picked India as its new go-to market
Although Gogoro is optimistic about its India launch, the country has a relatively small market for EVs, accounting for only 3.7% of the country’s total automotive market. Electric scooters in the country capture 90% of the total EV sales, but that is just about 5% of the overall two-wheeler market. The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market.
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets.
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. |
15841 | Why Gogoro picked India as its new go-to market
The Indian government has allocated billions of dollars in subsidies and discounts to attract manufacturers and commuters for EVs. However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market.
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets.
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. |
15842 | Why Gogoro picked India as its new go-to market
However, these benefits only remain in place for a short time, and some disruption due to the changes in their structure has recently been seen in the electric two-wheeler market.
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets.
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. |
15843 | Why Gogoro picked India as its new go-to market
Yet, Gogoro — similar to other players in the EV market — is bullish since the Indian government has targeted 30% EV adoption by 2030. Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets.
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues. |
15844 | Why Gogoro picked India as its new go-to market
Gogoro’s approach to considering India as a manufacturing hub will also likely appeal to the government and help the company shift some of its production from China and enter new markets.
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues.
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. |
15845 | Why Gogoro picked India as its new go-to market
It’s important to note that although Gogoro’s revenue dropped significantly in the last quarter, its battery-swapping service continued to grow, with a revenue of $33.6 million, up 10.4% year-on-year. As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues.
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems. |
15846 | Why Gogoro picked India as its new go-to market
As the company looks to collaborate with other vehicle manufacturers in India for its battery-swapping technology, it could be a mutually beneficial move for both Gogoro and automobile players. Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues.
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems.
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. |
15847 | Why Gogoro picked India as its new go-to market
Indian automotive players actively seek solutions to reduce charging time and offer efficient alternatives to ICE (internal combustion engine) vehicles. By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues.
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems.
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. But for Gogoro, it is just a start to explore how big of a dent it can make in the overall EV market with its available battery-swapping solution. |
15848 | Why Gogoro picked India as its new go-to market
By providing its technology to vehicle manufacturers, Gogoro can tap into this need and increase its battery-swapping service revenues.
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems.
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. But for Gogoro, it is just a start to explore how big of a dent it can make in the overall EV market with its available battery-swapping solution.
“I got an entire ecosystem I need to bring in. |
15849 | Why Gogoro picked India as its new go-to market
A recent report jointly created by Bain & Company and Blume Ventures forecast that electric two-wheelers without batteries can reduce the upfront cost of vehicles by 40% to 50%, attracting price-sensitive Indian customers. However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems.
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. But for Gogoro, it is just a start to explore how big of a dent it can make in the overall EV market with its available battery-swapping solution.
“I got an entire ecosystem I need to bring in. It took us a little while to get ready, and it will take us a little while to ramp up. |
15850 | Why Gogoro picked India as its new go-to market
However, it also warned that building a battery-swapping ecosystem in India will be challenging in the near term and suggested maintaining a battery-swapping inventory for top SKUs across manufacturers, identifying customer segments to target, and establishing “walled-garden” partnerships to support swappable-battery systems.
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. But for Gogoro, it is just a start to explore how big of a dent it can make in the overall EV market with its available battery-swapping solution.
“I got an entire ecosystem I need to bring in. It took us a little while to get ready, and it will take us a little while to ramp up. And I’m not fooling anybody that this thing is going to [happen] overnight,” Luke said. “India’s a huge place. There’s a lot of different use cases. The price-performance people ask for is very high . |
15851 | Why Gogoro picked India as its new go-to market
An investor told TechCrunch that to really succeed, the market needs interoperability and standardization in battery swapping, similar to how we have USB-C in phones nowadays. But for Gogoro, it is just a start to explore how big of a dent it can make in the overall EV market with its available battery-swapping solution.
“I got an entire ecosystem I need to bring in. It took us a little while to get ready, and it will take us a little while to ramp up. And I’m not fooling anybody that this thing is going to [happen] overnight,” Luke said. “India’s a huge place. There’s a lot of different use cases. The price-performance people ask for is very high . . . So, through making more of the components and making more parts in India, with our Indian suppliers, we’ll definitely start, and then more and more localization would certainly help.” |
15852 | Office rents in Israel stay firm - for now
Less than a month before the war, "Globes" reported a huge deal in which Amnon Shashua's unicorn AI21 Labs announced it was leasing 7,000 square meters for NIS 15 million annually in Tel Aviv's Da Vinci project.
It will now be interesting to see when the next such big deal for office space is signed in Tel Aviv following the impact of the Israel-Hamas war. Sources in the income-producing property sector in Israel say that over the past few weeks there has been some interest in the sector, although mainly for smaller deals involving hundreds of square meters each.
The reports: "No change in rents
Azrieli Group (TASE: AZRG), is one of the biggest companies in the sector, with 15 office buildings comprising 632,000 square meters of space and 97% occupancy. Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. |
15853 | Office rents in Israel stay firm - for now
It will now be interesting to see when the next such big deal for office space is signed in Tel Aviv following the impact of the Israel-Hamas war. Sources in the income-producing property sector in Israel say that over the past few weeks there has been some interest in the sector, although mainly for smaller deals involving hundreds of square meters each.
The reports: "No change in rents
Azrieli Group (TASE: AZRG), is one of the biggest companies in the sector, with 15 office buildings comprising 632,000 square meters of space and 97% occupancy. Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. However the company added that due to the uncertainty about the length of the war and its development, it could not assess the future impact of the war on business activities in Israel in general and on the company in particular. |
15854 | Office rents in Israel stay firm - for now
It will now be interesting to see when the next such big deal for office space is signed in Tel Aviv following the impact of the Israel-Hamas war. Sources in the income-producing property sector in Israel say that over the past few weeks there has been some interest in the sector, although mainly for smaller deals involving hundreds of square meters each.
The reports: "No change in rents
Azrieli Group (TASE: AZRG), is one of the biggest companies in the sector, with 15 office buildings comprising 632,000 square meters of space and 97% occupancy. Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. However the company added that due to the uncertainty about the length of the war and its development, it could not assess the future impact of the war on business activities in Israel in general and on the company in particular.
Amot Investments (TASE: AMOT), another of the biggest companies in the income-producing property sector, has 1.15 million square meters of office space for leasing with 93.5% occupancy with a further six projects in various stages of construction. |
15855 | Office rents in Israel stay firm - for now
The reports: "No change in rents
Azrieli Group (TASE: AZRG), is one of the biggest companies in the sector, with 15 office buildings comprising 632,000 square meters of space and 97% occupancy. Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. However the company added that due to the uncertainty about the length of the war and its development, it could not assess the future impact of the war on business activities in Israel in general and on the company in particular.
Amot Investments (TASE: AMOT), another of the biggest companies in the income-producing property sector, has 1.15 million square meters of office space for leasing with 93.5% occupancy with a further six projects in various stages of construction. Amot wrote, "In the third quarter several new contracts were signed including the exercising of options and the renewal of immaterial contracts for 14,000 square meters of space for an unchanged rent." |
15856 | Office rents in Israel stay firm - for now
Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. However the company added that due to the uncertainty about the length of the war and its development, it could not assess the future impact of the war on business activities in Israel in general and on the company in particular.
Amot Investments (TASE: AMOT), another of the biggest companies in the income-producing property sector, has 1.15 million square meters of office space for leasing with 93.5% occupancy with a further six projects in various stages of construction. Amot wrote, "In the third quarter several new contracts were signed including the exercising of options and the renewal of immaterial contracts for 14,000 square meters of space for an unchanged rent."
Amot raises concerns about the continuation of the war which would lead to damage to the economy, including to the company's tenants. |
15857 | Office rents in Israel stay firm - for now
Last week Azrieli published its financial results for the third quarter of 2023 saying that the company had not been impacted by the war. However the company added that due to the uncertainty about the length of the war and its development, it could not assess the future impact of the war on business activities in Israel in general and on the company in particular.
Amot Investments (TASE: AMOT), another of the biggest companies in the income-producing property sector, has 1.15 million square meters of office space for leasing with 93.5% occupancy with a further six projects in various stages of construction. Amot wrote, "In the third quarter several new contracts were signed including the exercising of options and the renewal of immaterial contracts for 14,000 square meters of space for an unchanged rent."
Amot raises concerns about the continuation of the war which would lead to damage to the economy, including to the company's tenants. The report says, "The uncertainty that existed in the profitable real estate market in Israel even before the outbreak of the war and that was felt in the moderation in demand and the lengthening of the negotiations to close agreements, has intensified following the war. |
15858 | Office rents in Israel stay firm - for now
Amot Investments (TASE: AMOT), another of the biggest companies in the income-producing property sector, has 1.15 million square meters of office space for leasing with 93.5% occupancy with a further six projects in various stages of construction. Amot wrote, "In the third quarter several new contracts were signed including the exercising of options and the renewal of immaterial contracts for 14,000 square meters of space for an unchanged rent."
Amot raises concerns about the continuation of the war which would lead to damage to the economy, including to the company's tenants. The report says, "The uncertainty that existed in the profitable real estate market in Israel even before the outbreak of the war and that was felt in the moderation in demand and the lengthening of the negotiations to close agreements, has intensified following the war.
"The company's management estimates that given that the war will focus only on the southern front and the duration of the fighting at the current intensity will not exceed two to three months, then the effect of the war is not material on the company's business. |
15859 | Office rents in Israel stay firm - for now
Amot wrote, "In the third quarter several new contracts were signed including the exercising of options and the renewal of immaterial contracts for 14,000 square meters of space for an unchanged rent."
Amot raises concerns about the continuation of the war which would lead to damage to the economy, including to the company's tenants. The report says, "The uncertainty that existed in the profitable real estate market in Israel even before the outbreak of the war and that was felt in the moderation in demand and the lengthening of the negotiations to close agreements, has intensified following the war.
"The company's management estimates that given that the war will focus only on the southern front and the duration of the fighting at the current intensity will not exceed two to three months, then the effect of the war is not material on the company's business. In the aforementioned situation, the company's management estimates that despite the damage to its revenue, which cannot yet be accurately estimated, they will be reflected in the company's annual NOI and FFO within the forecast. |
15860 | Office rents in Israel stay firm - for now
Amot raises concerns about the continuation of the war which would lead to damage to the economy, including to the company's tenants. The report says, "The uncertainty that existed in the profitable real estate market in Israel even before the outbreak of the war and that was felt in the moderation in demand and the lengthening of the negotiations to close agreements, has intensified following the war.
"The company's management estimates that given that the war will focus only on the southern front and the duration of the fighting at the current intensity will not exceed two to three months, then the effect of the war is not material on the company's business. In the aforementioned situation, the company's management estimates that despite the damage to its revenue, which cannot yet be accurately estimated, they will be reflected in the company's annual NOI and FFO within the forecast. "In the company's assessment, the continuation of the fighting for a long time and/or a full conflict on the northern border front (or on other fronts) will result in a significant and wider damage to the economy, including deepening the damage to private consumption and businesses, including the company's tenants, and as a result will cause a decrease in payments and changes in other economic parameters." |
15861 | Office rents in Israel stay firm - for now
"The company's management estimates that given that the war will focus only on the southern front and the duration of the fighting at the current intensity will not exceed two to three months, then the effect of the war is not material on the company's business. In the aforementioned situation, the company's management estimates that despite the damage to its revenue, which cannot yet be accurately estimated, they will be reflected in the company's annual NOI and FFO within the forecast. "In the company's assessment, the continuation of the fighting for a long time and/or a full conflict on the northern border front (or on other fronts) will result in a significant and wider damage to the economy, including deepening the damage to private consumption and businesses, including the company's tenants, and as a result will cause a decrease in payments and changes in other economic parameters."
The supply: Millions of square meters between Kfar Saba and Rishon Lezion
Even before the war, the industry was talking about there being too large a supply of office space. |
15862 | Office rents in Israel stay firm - for now
In the aforementioned situation, the company's management estimates that despite the damage to its revenue, which cannot yet be accurately estimated, they will be reflected in the company's annual NOI and FFO within the forecast. "In the company's assessment, the continuation of the fighting for a long time and/or a full conflict on the northern border front (or on other fronts) will result in a significant and wider damage to the economy, including deepening the damage to private consumption and businesses, including the company's tenants, and as a result will cause a decrease in payments and changes in other economic parameters."
The supply: Millions of square meters between Kfar Saba and Rishon Lezion
Even before the war, the industry was talking about there being too large a supply of office space. According to the Central Bureau of Statistics, between 2020 and 2022, construction was begun on 3.56 million square meters of office space. |
15863 | Office rents in Israel stay firm - for now
In the aforementioned situation, the company's management estimates that despite the damage to its revenue, which cannot yet be accurately estimated, they will be reflected in the company's annual NOI and FFO within the forecast. "In the company's assessment, the continuation of the fighting for a long time and/or a full conflict on the northern border front (or on other fronts) will result in a significant and wider damage to the economy, including deepening the damage to private consumption and businesses, including the company's tenants, and as a result will cause a decrease in payments and changes in other economic parameters."
The supply: Millions of square meters between Kfar Saba and Rishon Lezion
Even before the war, the industry was talking about there being too large a supply of office space. According to the Central Bureau of Statistics, between 2020 and 2022, construction was begun on 3.56 million square meters of office space.
Avison Young Israel co-CEO Guy Amosi says, "I am now doing four or five deals for companies that must rent space. |
15864 | Office rents in Israel stay firm - for now
"In the company's assessment, the continuation of the fighting for a long time and/or a full conflict on the northern border front (or on other fronts) will result in a significant and wider damage to the economy, including deepening the damage to private consumption and businesses, including the company's tenants, and as a result will cause a decrease in payments and changes in other economic parameters."
The supply: Millions of square meters between Kfar Saba and Rishon Lezion
Even before the war, the industry was talking about there being too large a supply of office space. According to the Central Bureau of Statistics, between 2020 and 2022, construction was begun on 3.56 million square meters of office space.
Avison Young Israel co-CEO Guy Amosi says, "I am now doing four or five deals for companies that must rent space. Not large-scale deals. There are a few companies that end contracts or companies that grow and want more space. |
15865 | Office rents in Israel stay firm - for now
The supply: Millions of square meters between Kfar Saba and Rishon Lezion
Even before the war, the industry was talking about there being too large a supply of office space. According to the Central Bureau of Statistics, between 2020 and 2022, construction was begun on 3.56 million square meters of office space.
Avison Young Israel co-CEO Guy Amosi says, "I am now doing four or five deals for companies that must rent space. Not large-scale deals. There are a few companies that end contracts or companies that grow and want more space. On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. |
15866 | Office rents in Israel stay firm - for now
According to the Central Bureau of Statistics, between 2020 and 2022, construction was begun on 3.56 million square meters of office space.
Avison Young Israel co-CEO Guy Amosi says, "I am now doing four or five deals for companies that must rent space. Not large-scale deals. There are a few companies that end contracts or companies that grow and want more space. On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. |
15867 | Office rents in Israel stay firm - for now
Avison Young Israel co-CEO Guy Amosi says, "I am now doing four or five deals for companies that must rent space. Not large-scale deals. There are a few companies that end contracts or companies that grow and want more space. On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. |
15868 | Office rents in Israel stay firm - for now
Not large-scale deals. There are a few companies that end contracts or companies that grow and want more space. On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. |
15869 | Office rents in Israel stay firm - for now
There are a few companies that end contracts or companies that grow and want more space. On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas." |
15870 | Office rents in Israel stay firm - for now
On the other hand, Midtown was written off when it was built next to Azrieli and now these are the most sought-after towers. Everything is a question of how long will it take to occupy. In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. |
15871 | Office rents in Israel stay firm - for now
In the end, everything will be occupied."
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." |
15872 | Office rents in Israel stay firm - for now
Amosi says that there are many areas in the central region, which in his opinion he fears could remain empty for a long time before they are occupied. He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. |
15873 | Office rents in Israel stay firm - for now
He says, "A company asked us to find them 15,000 square meters and asked us to map out options for offices from Rishon Lezion to Kfar Saba. They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space." |
15874 | Office rents in Israel stay firm - for now
They did not look in Tel Aviv where the prices are high, and two years ago contracts were closed for NIS 150 per square meter. We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. |
15875 | Office rents in Israel stay firm - for now
We found that there are a huge number of projects in the area between Rosh Laz and Kfar Saba. Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. |
15876 | Office rents in Israel stay firm - for now
Millions of square meters are being built and I really don't know who will occupy all these areas."
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again." |
15877 | Office rents in Israel stay firm - for now
In his opinion, there is an advantage to offices in a good location, like Park Naimi in the central region (Messubim Junction) near Roads 4 and 1. "It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. |
15878 | Office rents in Israel stay firm - for now
"It sits in a good location." But Amosi is bothered by offices built without an anchor tenant to begin with. "Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. |
15879 | Office rents in Israel stay firm - for now
"Without a tenant for which the building is being specifically constructed for marketing. Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage. |
15880 | Office rents in Israel stay firm - for now
Even in Petah Tikva they are building half a million square meters of new office space."
There was Covid and then there was a crisis in high-tech that led to a chain reaction of reduced spending. Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. |
15881 | Office rents in Israel stay firm - for now
Companies began to check every investment. Along with this, interest rates rose and inflation is rampant all over the world. We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. |
15882 | Office rents in Israel stay firm - for now
We are not a bubble. Above all this, comes the war. However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. But we all understood that we have one home and must keep it as the best possible place. |
15883 | Office rents in Israel stay firm - for now
However, in general, real estate works in waves and the wave will come again."
The war: "I expected a longer stoppage"
Natalie Marshall, the owner of Marshall Strategic Real Estate marketing talks about a restored interest in offices. "I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. |
15884 | Office rents in Israel stay firm - for now
"I expected there to be a longer stoppage in the office market. There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters." |
15885 | Office rents in Israel stay firm - for now
There was a stoppage of office marketing for a month, but about two weeks ago movement recommenced. There is also seasonality in the office sector - in July-August and during the holidays every year there is a stoppage.
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. |
15886 | Office rents in Israel stay firm - for now
"In my opinion, in an ironic way, all of us in the public have now realized that we have nowhere to go and we only have one country. In the last six months, with the protests and the reform, people did not know what to do and even thought of leaving. But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return." |
15887 | Office rents in Israel stay firm - for now
But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. |
15888 | Office rents in Israel stay firm - for now
But we all understood that we have one home and must keep it as the best possible place. I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. |
15889 | Office rents in Israel stay firm - for now
I see there has been a movement of people interested in renting offices in the last two and a half weeks and the market is alive and kicking. There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein. |
15890 | Office rents in Israel stay firm - for now
There are many meetings and tours of the area. At the moment we are seeing companies searching for 10,000 or 15,000 square meters."
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. |
15891 | Office rents in Israel stay firm - for now
Newmark Natam VP real estate services Or Ben Zvi Klein explains that there are even companies interested in the southern region and there is a market for deals and factories in the region. He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. He says, "We are continuing to progress. Real estate is not for a year. |
15892 | Office rents in Israel stay firm - for now
He says, "We managed to do such deals, such as lawyers, small high-tech companies, call centers, warehouses moving from Ofakim and Sderot towards Beer Sheva and Kiryat Gat on short contracts, so as soon as the area is restored they will return."
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. He says, "We are continuing to progress. Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park. |
15893 | Office rents in Israel stay firm - for now
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. He says, "We are continuing to progress. Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park.
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. |
15894 | Office rents in Israel stay firm - for now
Ben Zvi Klein says "In the north, I am marketing a building in Nof Hagalil. All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. He says, "We are continuing to progress. Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park.
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. Our location is the most central in the country, so I am not afraid to plan and build four more buildings". |
15895 | Office rents in Israel stay firm - for now
All the areas in Metula, Kiryat Shmona, etc. are not areas for offices" says Ben Zvi Klein.
Rents: "Property owners have not cut rents"
Property developer Miki Naimi, who is building the large office park near the Messubim Interchange, does not sound bothered. He says, "We are continuing to progress. Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park.
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. Our location is the most central in the country, so I am not afraid to plan and build four more buildings".
Naimi says that the first building to be occupied, with an area of 35,000 square meters, "Is mostly marketed and there is already set to be occupancy." |
15896 | Office rents in Israel stay firm - for now
He says, "We are continuing to progress. Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park.
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. Our location is the most central in the country, so I am not afraid to plan and build four more buildings".
Naimi says that the first building to be occupied, with an area of 35,000 square meters, "Is mostly marketed and there is already set to be occupancy." The first company to move in as early as January is Audicodes, which has leased 10,500 square meters and is implementing finishing works. "In March-April, additional companies will enter. |
15897 | Office rents in Israel stay firm - for now
Real estate is not for a year. I am not afraid of the situation and the war will also end. We are currently in advanced talks with three companies that will join us in Naimi Park.
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. Our location is the most central in the country, so I am not afraid to plan and build four more buildings".
Naimi says that the first building to be occupied, with an area of 35,000 square meters, "Is mostly marketed and there is already set to be occupancy." The first company to move in as early as January is Audicodes, which has leased 10,500 square meters and is implementing finishing works. "In March-April, additional companies will enter. Sheba Medical Center Tel Hashomer will also enter there and leased 2,600 square meters and will increase to 5,300 square meters," he says. |
15898 | Office rents in Israel stay firm - for now
"We have built 140,000 square meters out of 350,000 square meters and now we are developing another 140,000 square meters of office space with 100,000 square meters of parking lots designed by MYS architects. Our location is the most central in the country, so I am not afraid to plan and build four more buildings".
Naimi says that the first building to be occupied, with an area of 35,000 square meters, "Is mostly marketed and there is already set to be occupancy." The first company to move in as early as January is Audicodes, which has leased 10,500 square meters and is implementing finishing works. "In March-April, additional companies will enter. Sheba Medical Center Tel Hashomer will also enter there and leased 2,600 square meters and will increase to 5,300 square meters," he says.
Ben Zvi Klein thinks that as in other crises, when the crisis breaks everything halts but then we see buds of everything returning to work. |
15899 | Office rents in Israel stay firm - for now
Our location is the most central in the country, so I am not afraid to plan and build four more buildings".
Naimi says that the first building to be occupied, with an area of 35,000 square meters, "Is mostly marketed and there is already set to be occupancy." The first company to move in as early as January is Audicodes, which has leased 10,500 square meters and is implementing finishing works. "In March-April, additional companies will enter. Sheba Medical Center Tel Hashomer will also enter there and leased 2,600 square meters and will increase to 5,300 square meters," he says.
Ben Zvi Klein thinks that as in other crises, when the crisis breaks everything halts but then we see buds of everything returning to work. But he also adds that volumes are low but no different than before the war. |
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