Mivne Real Estate (K.D) Ltd.
MVNE
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Mivne Real Estate (K.D) Ltd. owns and leases commercial and industrial properties in industrial zones that are linked to Israeli settlements in the occupied West Bank. The Council on Ethics for Norway’s Government Pension Fund Global concluded that the company’s letting of buildings constructed in violation of international law contributes to the continuation of an illegal settlement activity. This activity is situated within an active and protracted conflict zone. By providing the real estate infrastructure that supports these settlements, the company is materially supporting activities that sustain the conflict conditions and contribute to serious violations of individuals' rights in situations of war or conflict. The fund formally excluded Mivne in 2021 based on this assessment.
Mivne Real Estate (K.D) Ltd. is one of Israel's largest real estate companies, specializing in industrial and commercial properties. It owns multiple properties in Israeli settlements in the occupied West Bank, as documented by the United Nations Human Rights Council (A/HRC/60/19) and the AFSC Investigate database. The company is listed in the UN database of business enterprises involved in activities related to Israeli settlements in the Occupied Palestinian Territory.
The Norwegian Government Pension Fund Global (GPFG) excluded Mivne Real Estate in May 2025, citing an unacceptable risk of contributing to the construction of Israeli settlements in occupied territory. The company’s real estate activities in these settlements constitute a material contribution to their ongoing development and economic viability, in violation of international law.
Research Sources
1 organization
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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