2021 has been a tremendous year in Israel for commercial real estate gains. We have seen records increases in property values, particularly in A grade office rental fees in the city of Tel Aviv and industrial land values.
There are two main factors driving these gains. This first factor is that Israeli companies raised an annual record in 2021; $25.6 billion in 773 financing rounds, as well 2021 being the most active year for Israeli exits with 75 IPOs and 163 M&A deals, for a total of $22.2 billion. The second factor is the increased demand for large logistic facilities and a shortage of suitable land in central Israel.
We're off to a good start to 2022.