Betting big on Israeli real estate, Canadian billionaire looks to drive housing markets

February 27, 2026 - 13:41

Canadian billionaire Hershey Friedman is significantly expanding his already substantial footprint in Israel's real estate sector, with a clear strategic focus on Jerusalem. Friedman, who rescued and revitalized the developer Azorim in 2011, has transformed the company into a market leader valued at approximately NIS 5 billion. His latest moves signal a deep commitment to shaping the housing landscape in the historic capital.

This renewed push represents a major vote of confidence in Jerusalem's economic and residential growth. Industry analysts note that Friedman's strategy involves securing large-scale projects aimed at addressing housing demand while catering to a mix of local and international buyers. His approach through Azorim has consistently focused on large, multi-unit residential developments, suggesting a continuation of this model in the city.

The investment comes at a time when Jerusalem is experiencing dynamic demographic shifts and urban development. Friedman's financial clout and proven track record in turning around and scaling real estate ventures position him to be a key player in this transformation. The scale of this new commitment is expected to influence construction trends, housing availability, and potentially the architectural character of several Jerusalem neighborhoods in the coming years. Market observers will be watching closely to see how these investments alter the supply and dynamics of the city's housing market.