It’s official: Excelion has closed its offices in Israel.
In a letter sent yesterday (November 20, 2024) to buyers of apartments in Kardamena project on the Greek island of Kos, the company announced that its new offices in Ramat Gan are now closed, and it intends to open a new office in Vienna, the capital of Austria.
While the surprising choice of location for the company’s office—given that 90% of its clients and investors reside in Israel—might raise eyebrows, it becomes less perplexing when we recall our earlier report from the summer. At that time, we revealed that Vlad Nemirovsky, Excelion’s chairman and the new owner of the company’s main assets—Alva Park in Spain, Green Wood in Bulgaria, and Sankt Martin in Austria—had relocated to Vienna, Europe’s “strudel capital.” Notably, this move to Europe occurred after Nemirovsky received a notice of intent to initiate enforcement proceedings against him in Israel. It’s also worth recalling another report of ours regarding the dramatic reduction in the number of employees listed on Excelion’s official website. It later emerged that this reflected the termination of most of the company’s workforce.
In light of the above, Excelion Victims Board advises anyone hoping for matters to resolve themselves to reconsider.
