Two businesspeople and new immigrants from France, Marc Lugassy and Paul Nakash, have invested 30 million shekels in Abraham Group. The investment round was led by MP Private Partners Ltd., a company they founded and a private investment firm focused on direct investments in companies in the real estate, brokerage, tourism, sports complex and hospitality sectors.
The capital raised will be used to reopen Abraham Jerusalem and establish the Dead Sea complex next to Isrotel’s new hotel, on land Abraham previously purchased but whose construction plan was not carried out because of the war. The funding will also go toward strengthening operations in Tel Aviv and Eilat, expanding the Abraham Tours travel arm and deepening the brand’s global presence in international markets such as the Philippines, where the group previously acquired a hospitality site.
Abraham Hostel in Tel Avi
Gilad Shauloff, CEO of Abraham Group, said that after a long and challenging period in which the company continued to advance its business activity and fight for its values despite the damage caused by the war, the agreement that was signed marks a historic milestone for the group.
“The figures from recent months in the industry are not simple, and therefore Marc and Paul’s decision to invest in Abraham precisely now is moving and underscores that they are true partners in our vision and DNA,” he said.
Lugassy and Nakash said they were deeply impressed by the brand’s resilience, its ability to execute innovative moves and the quality of the company’s management.
“We believe that Abraham’s model includes all the components needed to preserve and strengthen its leadership position in Israel, while also establishing its presence around the world,” they said in a statement. “We have full confidence in the future of the State of Israel and in the resilience of the local economy.”