Blue Square Real Estate Ltd (BSRE) is an Israel-based real estate company and a subsidiary of Blue Square Israel Ltd (BSI). As part of a re-organization of BSI and as part of this strategy, in 2006, BSI transferred its real estate assets and certain liabilities to BSRE, and in August 2006, Blue Square Real Estate Ltd completed an initial public offering (IPO) on the Tel Aviv Stock Exchange. BSRE owns assets of approximately 256 thousand square meters. It has about 120 properties of which 93 are leased as branches of the Blue Square supermarket chain. The Company has approximately 80,000 square meters of building rights which have not been used so far and the development of vacant lots. Additionally, the Company has a 50% stake in Hadar mall in Jerusalem.