Tel Aviv, Israel, April 21st, 2026, FinanceWire
Iconic Global, an Israeli commercial real estate developer founded and led by Eliran Oved, today announced the deployment of a data-driven leasing and tenant matching approach at its Rishon LeZion commercial site. The initiative applies analytics to tenant selection, space optimization, and retail mix planning at the former Bezeq compound on the city’s northern industrial zone, and runs in parallel with the company’s ongoing zoning amendment to expand the property with mixed-use capacity.
Project Overview
The Rishon LeZion property is located in the city’s northern industrial zone, adjacent to the HaZahav Mall. The existing structure, part of the Iconic Global Rishon LeZion portfolio, includes four floors and 8,000 square meters of office and retail space, with retail located on the lower floors.
Technology and Data-Driven Operations
The data-driven leasing approach applies analytics at the Rishon LeZion site, informing tenant selection, retail mix, and space planning. Factors the framework weighs include traffic potential across stores, demographic overlap with the HaZahav Mall catchment area, and retail category balance over the longer horizon.
The approach draws on methods used in technology-led portfolios across Eliran Oved’s broader investment activities, which include involvement in digital education, marketing technology, and data infrastructure. Applying those methods to commercial real estate represents the company’s continued integration of analytics-led decision making into its operational workflow.
Zoning Amendment Details
Iconic Global is advancing a zoning plan amendment, known in Israel as a TBE, that would allow for a mixed-use redevelopment of the property. The amendment targets an additional 15,000 square meters of building rights, structured to combine commercial space with residential units.
Iconic Global confirms that the work on the amendment is active and that leasing activity on the existing building is continuing in parallel.
Retail Tenant Agreements
The existing building has signed agreements with established Israeli retail brands for stores in the lower-floor commercial areas. The data-driven tenant matching framework informed the composition of the current retail mix.
“We bought a building that already had structure and traffic around it. The work now is to use what is there, add what the zoning allows, and give the site a second generation. Rishon is a market where retail needs a reason to come, and this location gives them one”, said Eliran Oved, Founder and CEO of Iconic Global.
Project Context
Rishon LeZion is the fourth largest city in Israel by population and the closest major urban center to the southern reaches of Tel Aviv. Mixed-use real estate projects that combine residential and commercial uses on the same site are designed to serve both daytime office activity and evening retail traffic.
For a commercial property that generates leasing income during the holding period, an approved residential entitlement on the same site creates additional planning flexibility without requiring immediate construction.
About Iconic Global
Iconic Global is an Israeli commercial real estate developer focused on central Israeli mixed-use and retail properties. Founded and led by Eliran Oved, who also owns Bnei Yehuda Tel Aviv FC, the company operates additional projects across Israel, with the Rishon LeZion site as its most commercially active asset at present. Iconic Global is a builder of long-hold properties that integrates analytics and technology-led operations into its commercial portfolio.
“Real estate is slower than the other things I work on. That is part of why I like it. You have to be patient and specific. The tenants, the zoning, the neighbors, the traffic. If you get those right, the asset builds itself”, Oved added.
Forward Outlook
Iconic Global continues advancing the Rishon LeZion plan in parallel across three tracks: tenant signings on the existing building, the ongoing zoning amendment, and the broader rollout of data-driven operational practices across the commercial portfolio. The visible indicators to watch are the retail brand store openings on the lower floors and continued progress on the zoning amendment.