G City (GZTGF) 2021年年度报告「OTC」.pdf

1、Financial Reports2021G CITY|RISHON LEZION|ILLUSTRATIONTo our shareholders,2021 will be remembered as the year of emerging from theCovid pandemic,a year full of activity during which weworked on various levels and significantly promoted ourplan to enhance and diversify our asset portfolio.In the four

2、th quarter of 2021,the number of visitors andtenant turnovers returned to pre-Covid pandemic levels inmost territories in which we operate,and the Groupsoccupancy rates remained high,with 94.3%at the end of2021 compared to 93.9%in 2020.2120GAZITRESULTSAfter four years of ongoing efforts,in December

3、2021 we received the approval of theshareholders meeting of the subsidiary operating in Central Europe,Atrium,forcompletion of the merger and turning Atrium into a wholly-owned private company.This is a transaction that changes the face of Gazit Globe.After completion of themerger,85%of Gazits holdi

4、ngs are private compared to 55%before the merger.Making Atrium private is an essential part in implementing the strategy of turningGazit into an operating company with properties in high-density urban centers withextremely high access to public transport,properties with additional building rightsand

5、 enormous improvement potential.We do not presently need to acquire more landor properties and can develop our existing rights adjacent to and above our existingproperties,which will also assist us in developing the residential for rent sector.CHAIM KATZMANFOUNDER AND CEOTARGOWEK|WARSAW|POLANDAtrium

6、 is an excellent company and a dominant player in the shopping centersector,with 55%of the value of its assets located in Warsaw and Prague.Theadvantages of the merger were the acquisition of the minority share of theshareholders at an attractive price that constitutes a 21%discount of the EPRA NRVp