Shikun & Binui: Israel's Oldest and Largest Housing Developer — Everything You Need to Know
Introduction: A Century of Building Israel
When you talk about residential construction in Israel, one name towers above the rest — both figuratively and literally. Shikun & Binui (Hebrew: שיכון ובינוי, meaning "Housing and Construction") is the country's oldest and largest real estate developer, with roots stretching all the way back to 1924, during the British Mandate era. Over the course of nearly a century, this company has built more than 190,000 housing units across Israel, providing homes for over one million people.
With annual revenue exceeding $2.1 billion and operations spanning more than twenty countries, Shikun & Binui is not just an Israeli success story — it's a global construction powerhouse. But its heart remains in the residential neighborhoods, towns, and cities of Israel, where it continues to shape the landscape of everyday life.
This blog post takes a deep dive into Shikun & Binui's history, its residential projects, its approach to sustainability and urban renewal, and what the future holds for one of the most important developers in the Middle East.
The History of Shikun & Binui
Founding and Early Years (1924–1950s)
Shikun & Binui's origins are inseparable from the story of modern Israel itself. In 1924, the General Organization of Workers in Israel — better known as the Histadrut — established Solel Boneh, a construction company designed to unite the various groups of laborers who were building roads, homes, and infrastructure throughout what was then Mandatory Palestine. Solel Boneh would eventually become a key component of what we now know as the Shikun & Binui Group.
In its earliest decades, the company focused on the basic needs of a young and rapidly growing population: building housing for immigrants, constructing infrastructure, and developing the physical foundations of what would become the State of Israel in 1948. After independence, Shikun & Binui played a critical role in the massive wave of construction needed to absorb hundreds of thousands of new immigrants from Europe, North Africa, and the Middle East.
Expansion and Internationalization (1958–2000s)
In 1958, inspired by the vision of Prime Minister Golda Meir, Solel Boneh expanded its operations into Africa. The company began working in countries like Nigeria, Uganda, Kenya, and Ghana, executing large-scale infrastructure and construction projects. This international expansion laid the groundwork for Shikun & Binui's evolution into a truly global enterprise.
Over the following decades, the group diversified beyond residential construction into infrastructure, energy, and concession projects. Its subsidiary divisions became specialized: Shikun & Binui Real Estate handled domestic housing development, Shikun & Binui Europe managed operations across the Czech Republic, Hungary, Romania, Poland, and Serbia, and Shikun & Binui Energy entered the renewable energy sector.
Modern Era and Ownership Changes
In June 2018, Arison Investments sold its 47% stake in the company to Netanel H. Saidoff for NIS 1.1 billion. This marked a new chapter for the group, with Tamir Cohen appointed as Chairman and CEO. In December 2024, Amit Birman took over the leadership role, steering the company into its next phase of growth.
Today, Shikun & Binui is publicly traded on the Tel Aviv Stock Exchange under the ticker SKBN, and remains the top construction company in Israel by revenue.
Shikun & Binui's Residential Portfolio
Scale and Scope
The residential arm of Shikun & Binui — Shikun & Binui Real Estate — was originally established in 1933 under the name "Shikun Ovdim." It has since been responsible for the development and construction of entire neighborhoods and communities across the country. With over 190,000 housing units completed to date, the company has literally housed more than a million Israelis.
As of recent reports, the company maintains dozens of active construction sites at any given time, with thousands of residential units and thousands of square meters of commercial properties in various stages of development. Shikun & Binui Real Estate also holds significant land reserves, with plans for over 10,000 additional housing units.
Flagship Residential Projects
Shikun & Binui's residential portfolio spans the entire country, from the northern Sharon region to the Negev in the south. Some notable projects include:
Chalomot Or-Yam (Or Akiva): This residential complex near Caesarea features 23 buildings in the new Or-Yam neighborhood, with boutique 5-story and 9-story buildings. The project was designed with environmentally friendly standards and sits within walking distance of the Mediterranean Sea.
Chalomot Tzur Hadassah: Located in the Jerusalem hills, this development offers 4-6 floor buildings with a range of apartment sizes, from standard units to penthouses. The buildings are constructed to green building standards and feature high-quality architectural design.
Chalomot Pardes Hanna Karkur: Eight buildings offering 4-5 room apartments, mini penthouses, and penthouses in the growing town of Karkur, known for its quality of life and warm community atmosphere.
Time Tower (Rishon LeZion): A luxury high-rise built in the prestigious Rishonim neighborhood, representing the company's ability to deliver premium residential experiences.
Mall HaHof (Netanya): Built in cooperation with Azorim, this commercial and residential development in Netanya's prestigious Ir Yamim neighborhood showcases the company's mixed-use capabilities.
Urban Renewal: Transforming Israel's Cities
Urban renewal has become an increasingly important part of Shikun & Binui's business strategy. The company is actively promoting over 14,000 housing units through various urban renewal projects, with a particular focus on Tel Aviv, where it has an immediate backlog of projects involving the demolition and reconstruction of older buildings.
One notable example is the Smuts Boulevard project in Tel Aviv, which involves the demolition of four existing buildings containing 45 units and the construction of four new 8-story buildings offering 86 housing units. This type of project — known in Israel as "Pinui-Binui" (evacuation and construction) — is central to the government's strategy for increasing housing supply in dense urban areas.
The company also focuses on urban renewal in Or Akiva, the northern Sharon region, Gush Dan (the greater Tel Aviv metropolitan area), Ramla, and Jerusalem. Shikun & Binui's approach to urban renewal emphasizes communication and trust between all stakeholders, including existing residents, planners, and local authorities.
Sustainability and Green Building
Shikun & Binui has been a pioneer in green building within the Israeli construction industry. In 2007, the group adopted sustainability as a core part of its corporate policy, leading to significant changes in its organizational structure and daily operations.
The company was the first in Israel to fully adopt the Israeli Green Building Standard (SI 5281) as binding — a move it made in 2008. Today, all of Shikun & Binui's residential buildings are planned and built according to this standard, which goes beyond simple energy efficiency to encompass tenant comfort, health, and community connection.
In recognition of these efforts, Shikun & Binui won the Green Globe Award in 2013, presented by "Life & Environment," the umbrella organization of Israel's green organizations.
Beyond Residential: A Diversified Empire
While residential construction remains at its core, Shikun & Binui's reach extends far beyond housing. The group's major divisions include:
Infrastructure (Solel Boneh): One of Israel's leading companies in building contracting, infrastructure, earthworks, and building materials. Clients include government ministries, governmental companies, municipalities, and private developers.
Concessions: Specializing in Public-Private Partnership (PPP) projects, including Israel's Cross-Israel Highway (Route 6), the Carmel Tunnels, and the Hadera seawater desalination plant.
Energy: Developing, building, and operating power plants for electricity generation based on solar and conventional energy, both in Israel and internationally.
International Operations: Active in over twenty countries across Africa, Europe, and the Americas, with a U.S. subsidiary operating out of Pittsburgh, Pennsylvania.
Commercial Real Estate: Development and marketing of shopping malls, entertainment centers, industrial structures, storage facilities, student dormitories, parking lots, and gas stations.
Why Shikun & Binui Matters for Homebuyers
For Israeli homebuyers, choosing a Shikun & Binui project comes with several distinct advantages. The company's nearly century-long track record provides a level of security and trust that few competitors can match. Its financial strength — backed by publicly traded status and consistent profitability — means projects are less likely to face the delays or quality issues that can plague smaller developers.
The company's commitment to green building standards also translates into tangible benefits for residents: better insulation, more efficient heating and cooling systems, and thoughtfully designed common spaces that foster community life.
Additionally, Shikun & Binui's complete service package accompanies buyers from the initial meeting through to apartment delivery, ensuring a smooth purchasing experience.
The Future of Shikun & Binui
Looking ahead, Shikun & Binui is well-positioned to continue its dominant role in Israeli residential construction. Several factors support this outlook: Israel's population continues to grow, the housing shortage persists, government initiatives like National Master Plan 38 are accelerating urban renewal, and the company's substantial land reserves provide a built-in pipeline of future projects.
The appointment of Amit Birman as Chairman and CEO in late 2024 signals a commitment to fresh strategic thinking while building on the company's formidable legacy. With its unique combination of historical depth, financial strength, and forward-looking sustainability practices, Shikun & Binui is likely to remain at the forefront of Israeli housing for decades to come.
Key Facts at a Glance
Founded: 1924
Headquarters: Airport City, Central District, Israel
Stock Exchange: Tel Aviv Stock Exchange (SKBN)
Annual Revenue: ~$2.1 billion
Housing Units Built: 190,000+
People Housed: Over 1 million
Countries of Operation: 20+
Green Building: First Israeli company to adopt SI 5281 as binding
Key Divisions: Real Estate, Construction (Solel Boneh), Concessions, Energy, International
Current CEO: Amit Birman (as of December 2024)