Azrieli, IL0011194789

Azrieli secures EUR 1.4 billion financing: 16-week delay shadows Azrieli stock

Published on 10/19/2026 at 10:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Norway campus has 80 megawatts and EUR 117 million annual NOI. Azrieli stock faces a 16-week delay before its first 20 megawatts.

Project financing and operating milestones

Azrieli signed EUR 1.4 billion of Norway data center financing on October 15, 2026.
The 80-megawatt campus is expected to generate EUR 117 million in annual NOI at full operation.
Azrieli stock stood at ILA 37,510.00 at 11:01 a.m. CEST on October 19, 2026 on TASE.
Azrieli is scheduled to report its next results on November 25, 2026.

Azrieli, IL0011194789, Illustration mit AI erstellt.

Azrieli (ISIN IL0011194789) signed financing of EUR 1.4 billion for an 80-megawatt data center campus in Norway on October 15, 2026, according to Calcalist. The project is expected to generate EUR 117 million in annual net operating income at full capacity, but the first 20 megawatts have been delayed by 16 weeks.

Financing changes the project

The financing includes a main credit facility of about EUR 1.0 billion, while the project can fund up to 85 percent of recognized construction costs with debt. Bizportal reported on October 15, 2026 that Azrieli could receive about EUR 260 million back for excess equity already invested once the first draw conditions are met.

The contract runs for 15 years from delivery of each stage, with an option for another 15 years. The delay therefore affects the timing of cash generation rather than the contracted operating period. Financing reduces the project's equity burden, while construction timing remains the key execution variable.

What does the delay mean for cash flow?

The first 20 megawatts are now expected in July 2027 instead of the original end of March 2027, while the second stage will be pushed back by three months, according to Bizportal. At full operation, the 80-megawatt campus is forecast to produce EUR 117 million of annual NOI, so each month of delay shifts the start of that income stream.

Three dated project steps

On September 28, 2026, Azrieli opened a senior-living complex with 274 units after investing ILS 590 million, with 40 percent sold before launch, according to Nadlano. On October 13, 2026, the group converted 292 planned apartments in its Spiral Tower project into office space, as Globes reported. The October 15, 2026 financing agreement is the latest of the three events.

Upcoming reporting date

Azrieli's next results are scheduled for November 25, 2026, according to TradingView. The latest reported second-quarter figures cited by the same page include revenue of ILS 1.14 billion and net income of ILS 155.00 million.

Stock context in euros

Azrieli's shares were at ILA 37,510.00 on TASE at 11:01 a.m. CEST on October 19, 2026. The stock's 52-week range was ILA 31,190.00 to ILA 51,310.00 on the same market-data snapshot.