Income producing real estate company Mega Or (TASE: MGOR), controlled by Zahi and Efrat Nahmias, reported today that it had bought the site of the former Alliance Tire Company factory in Hadera for NIS 1 billion cash. Following the announcement, the company’s share price rose sharply, to close 7.06% higher. The stock is expected to enter the Tel Aviv 35 list at the next revision of the Tel Aviv Stock Exchange indices on May 7.

According to market sources, Mega Or plans to construct one of the largest data centers in Israel on the site.

The 180 dunam (45 acres) plot in the Hadera industrial zone was for 75 years the site of the Alliance Tire Company, which produced specialized tires for agriculture and industry that were exported to dozens of countries. The factory was shut down at the end of 2024.

The purchase was made by Mega Or subsidiary Mega DC, which currently manages seven data centers at various stages: six are under construction while a seventh, at Modi’in, is operational. These centers will have an aggregate output of 314 megawatts, serving technology giants such as Nvidia. In January this year, Mega DC reported that it would provide data center services to Dutch company Nebius amounting to 80 megawatts at two installations, at Masmia and Bet Shemesh, at a total investment of $800 million.

Investment manager and analyst Lior Vider, founder and CEO of investment consultancy Profit Multiplier, said, "The strategic position of the land next to Road 4 and the complex energy infrastructure that already exists at the site represent critical assets for construction of a data center, as they considerably shorten the normal timetable. This purchase is a huge statement of intent by Mega Or concerning the dominance it aspires to achieve in data centers. The full payment in cash at this challenging time is a very strong expression of confidence in the sector’s potential. The economic justification for the investment is strong, and it will become one of the group’s main growth engines in the coming years."

Published by Globes, Israel business news - en.globes.co.il - on April 16, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.