The Amy Group, owned by businessman Shlomi Nechaisi, has acquired the Planet Rishon Lezion complex for NIS 300 million from the Israel Theatres group.

Planet, which will be renamed "Amy Planet," opened in July 2012 with an investment of over NIS 200 million and is considered one of the largest and leading cinema and entertainment complexes in Israel, with approximately 1.5 million viewers annually. It is located in western Rishon Lezion, adjacent to Superland, the Live Park amphitheater, and the Elef complex.

The complex spans approximately 30 dunams and includes about 25,000 square meters of built space, comprising 26 halls – of which 24 are cinema halls with about 3,600 seats and two additional event and conference halls – along with about 2,000 parking spaces. In addition to the cinema halls, the complex includes approximately 20 shops and stalls.

Shlomi Nechaisi, owner of the Amy Group, stated: "The acquisition of the Planet Rishon Lezion complex is a significant strategic transaction for the Amy Group and constitutes another layer in the expansion of the group's yield-generating real estate operations."

Nechaisi further added that "this is one of the leading entertainment, leisure, and cinema complexes in Israel, which enjoys an excellent location, full occupancy, and impressive visitor traffic throughout the year. We believe in the great potential of the complex and will work to continue and strengthen its status as a central entertainment hub for residents of the area and visitors from all over the country. Alongside this, we intend to realize the building rights for approximately 10,000 square meters existing in the zoning plan and develop the complex in a way that will create additional value for visitors, tenants, and the company."

The Amy Planet complex will be the 18th commercial complex for Amy Group and the third complex to include cinemas. About a year ago, the group acquired in a massive deal the "Amy Commercial Centers Netanya Poleg" complex – formerly the Y-Center complex in Netanya – for a sum estimated at approximately NIS 330 million. In addition to 20 shops, the complex also includes the Movieland cinema, which features 11 cinema halls including two Upgrade halls and a Kids hall. About six months ago, the group acquired the Gan HaIr Karmiel center, which includes eight Movieland cinema halls, for NIS 215 million.

In addition, Amy Group owns and manages commercial centers across the country, including in the cities of Petah Tikva, Netanya, Rishon Lezion, Tel Aviv–Yafo, Ness Ziona, Givat Shmuel, Herzliya, Or Yehuda, Or Akiva, Tirat Carmel, and Hadera.