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Yehuda “Yuli” Ofer was born in Romania and grew up in Israel from an early age. In the 1950s, together with his brother the late Sammy Ofer (1922-2011), he founded Ofer Properties (later known as Ofer Investments) and Mediterranean Routes, the shipping company that eventually expanded its global reach, specializing in fuel and phosphates transport and cruise operations. Mr. Yuli Ofer was a passionate investor in real estate. In 1987, he founded Melisron as part of the Ofer Investment Group, and led Melisron to become one of Israel’s major commercial real estate companies. The Ofer brothers later acquired a controlling interest in Hamizrahi Bank in 1994, and in 1999 acquired control of Israel Corp. After a division of the brothers’ joint holdings in 2002, Mr. Yuli Ofer became the controlling owner of Ofer Investments, which controlled Mizrahi-Tefahot Bank and Melisron, both publically traded on the TASE. Ofer Investments’ current operations include commercial real estate, residential real estate, hotels in Israel and abroad, and holdings in the banking sector. Throughout his life, Mr. Yuli Ofer contributed significantly to the development of the city of Herzliya, where he lived. Mr. Yuli Ofer died on September 11, 2011 at the age of 87 in his Herzliya residence.