Reports of Amazon’s imminent entrance into the Israeli market have sent the stocks of local operators of leading shopping malls plummeting on the Tel Aviv Stock Exchange by market close Tuesday.
The stock of Azrieli Group Ltd., which owns and operates 15 malls in Israel including the mall at Tel Aviv’s Azrieli Center, the Ayalon Mall in Ramat Gan, and Malha Mall in Jerusalem, dropped 2.85%, trading at NIS 204.8 (approximately $56.8); BIG Shopping Centers Ltd., the operator of 22 open-air malls throughout the country, saw its stock drop 3.01% to NIS 251.4 (approximately $69.8); and Melisron Ltd., the owner of Ofer Malls, which operates 20 shopping centers, dropped 2.78% to NIS 181.6 (approximately $50.4).
