Exhibit 8.1

LIST OF SUBSIDIARIES OF THE REGISTRANT



|                                    |  |                                               |  |                                    
|----------------------------------- |  | --------------------------------------------- |  | -----------------------------------
|Subsidiary                          |  | Jurisdiction of
Incorporation or
Organization |  | Name Under Which
Business is Done  
|Equity One, Inc.                    |  | Maryland                                      |  | Equity One, Inc.                   
|MGN (USA), Inc.                     |  | Nevada                                        |  | MGN (USA), Inc.                    
|MGN America, LLC                    |  | Delaware                                      |  | MGN America, LLC                   
|Gazit (1995), Inc.                  |  | Nevada                                        |  | Gazit (1995), Inc.                 
|Gazit First Generation LLC          |  | Delaware                                      |  | Gazit First Generation LLC         
|Gazit Group USA, Inc.               |  | Florida                                       |  | Gazit Group USA, Inc.              
|MGN Icarus, LLC                     |  | Florida                                       |  | MGN Icarus, LLC                    
|Gazit Group South America, Inc.     |  | Nevada                                        |  | Gazit Group South America, Inc.    
|Gazit South America, LP             |  | Delaware                                      |  | Gazit South America, LP            
|Gazit Senior Care, Inc.             |  | Florida                                       |  | Gazit Senior Care, Inc.            
|ProMed Properties, Inc.             |  | Delaware                                      |  | ProMed Properties, Inc.            
|Royal Senior Care, LLC              |  | Florida                                       |  | Royal Senior Care, LLC             
|ProMed Property Management, Inc.    |  | Florida                                       |  | ProMed Property Management, Inc.   
|ProMed Acquisition, Inc.            |  | Florida                                       |  | ProMed Acquisition, Inc.           
|ProMed HUMC, LLC                    |  | Delaware                                      |  | ProMed HUMC, LLC                   
|ProMed Kendall, LLC                 |  | Florida                                       |  | ProMed Kendall, LLC                
|ProMed Kendall Parking, LLC         |  | Florida                                       |  | ProMed Kendall Parking, LLC        
|ProMed Market, LLC                  |  | Delaware                                      |  | ProMed Market, LLC                 
|ProMed Sunset, LLC                  |  | Florida                                       |  | ProMed Sunset, LLC                 
|ProMed Westchester 220-230, LLC     |  | Delaware                                      |  | ProMed Westchester 220-230, LLC    
|ProMed Westchester 244, LLC         |  | Delaware                                      |  | ProMed Westchester 244, LLC        
|ProMed Westchester 250, LLC         |  | Delaware                                      |  | ProMed Westchester 250, LLC        
|ProMed Corinthian LLC               |  | New York                                      |  | ProMed Corinthian LLC              
|ProMed Tupper LLC                   |  | Delaware                                      |  | ProMed Tupper LLC                  
|ProMed Manhattan LLC                |  | New York                                      |  | ProMed Manhattan LLC               
|ProMed Biewend LLC                  |  | Delaware                                      |  | ProMed Biewend LLC                 
|ProMed 3333 N Calvert Street, LLC   |  | Delaware                                      |  | ProMed 3333 N Calvert Street, LLC  
|ProMed Virginia Square I, LLC       |  | Delaware                                      |  | ProMed Virginia Square I, LLC      
|ProMed Virginia Square II, LLC      |  | Delaware                                      |  | ProMed Virginia Square II, LLC     
|Gazit Acquisition Corp.             |  | Florida                                       |  | Gazit Acquisition Corp.            
|Silver Maple (2001), Inc.           |  | Delaware                                      |  | Silver Maple (2001), Inc.          
|Ficus, Inc.                         |  | Delaware                                      |  | Ficus, Inc.                        
|Gazit Group Financial, LLC          |  | Delaware                                      |  | Gazit Group Financial, LLC         
|Gazit Canada Inc.                   |  | Ontario, Canada                               |  | Gazit Canada Inc.                  
|Gazit 2003 Inc.                     |  | Ontario, Canada                               |  | Gazit 2003 Inc.                    
|First Capital Realty Inc.           |  | Ontario, Canada                               |  | First Capital Realty Inc.          
|Gazit America Inc.                  |  | Ontario, Canada                               |  | Gazit America Inc.                 
|Gazit Energy Inc.                   |  | Ontario, Canada                               |  | Gazit Energy Inc.                  
|Gazit Acquisition Inc.              |  | Ontario, Canada                               |  | Gazit Acquisition Inc.             
|Gazit Energy Limited Partnership    |  | Ontario, Canada                               |  | Gazit Energy Limited Partnership   
|Gazit Canada Financial Inc.         |  | Ontario, Canada                               |  | Gazit Canada Financial Inc.        
|Gazit Europe (Netherlands)          |  | The Netherlands                               |  | Gazit Europe (Netherlands)         
|Gazit Europe (Asia)                 |  | The Netherlands                               |  | Gazit Europe (Asia)                
|Biking Home B.V.                    |  | The Netherlands                               |  | Biking Home B.V.                   
|Citycon Oyj.                        |  | Finland                                       |  | Citycon Oyj.                       
|Atrium European Real Estate Limited |  | Jersey Island                                 |  | Atrium European Real Estate Limited
|Gazit Midas Limited                 |  | Jersey Island                                 |  | Gazit Midas Limited                
|Gazit Gaia Limited                  |  | Jersey Island                                 |  | Gazit Gaia Limited                 
|Gazit CPI Holdings Limited          |  | Jersey Island                                 |  | Gazit CPI Holdings Limited         



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|                                                                                                    |  |                       |  |                                                                                                    
|--------------------------------------------------------------------------------------------------- |  | --------------------- |  | ---------------------------------------------------------------------------------------------------
|Gazit Germany Beteiligungs GmbH & Co. KG                                                            |  | Germany               |  | Gazit Germany Beteiligungs GmbH & Co. KG                                                           
|Gazit Germany Asset Management GmbH                                                                 |  | Germany               |  | Gazit Germany Asset Management GmbH                                                                
|VELAYA Vermögensverwaltung mbH                                                                      |  | Germany               |  | VELAYA Vermögensverwaltung mbH                                                                     
|Gazit Immobilien Tonndorf GmbH                                                                      |  | Germany               |  | Gazit Immobilien Tonndorf GmbH                                                                     
|TONDO Projektentwicklungs GmbH & Co. KG                                                             |  | Germany               |  | TONDO Projektentwicklungs GmbH & Co. KG                                                            
|Gazit Tonndorf Komplementär GmbH                                                                    |  | Germany               |  | Gazit Tonndorf Komplementär GmbH                                                                   
|Gazit Immobilien Wentorf GmbH                                                                       |  | Germany               |  | Gazit Immobilien Wentorf GmbH                                                                      
|Casinopark Wentorf GmbH & Co. KG                                                                    |  | Germany               |  | Casinopark Wentorf GmbH & Co. KG                                                                   
|Gazit Wentorf Komplementär GmbH                                                                     |  | Germany               |  | Gazit Wentorf Komplementär GmbH                                                                    
|Gazit Immobilien Grevenbroich GmbH                                                                  |  | Germany               |  | Gazit Immobilien Grevenbroich GmbH                                                                 
|Gazit Immobilien Grevenbroich GmbH & Co. KG                                                         |  | Germany               |  | Gazit Immobilien Grevenbroich GmbH & Co. KG                                                        
|Gazit Grevenbroich Komplementär GmbH                                                                |  | Germany               |  |                                                                                                    
|Gazit Immobilien Motorama München GmbH                                                              |  | Germany               |  | Gazit Immobilien Motorama München GmbH                                                             
|Motorama München GmbH & Co. KG                                                                      |  | Germany               |  | Motorama München GmbH & Co. KG                                                                     
|Motorama München Komplementär GmbH                                                                  |  | Germany               |  | Motorama München Komplementär GmbH                                                                 
|Gazit Immobilien Berlin-Kladow GmbH                                                                 |  | Germany               |  | Gazit Immobilien Berlin-Kladow GmbH                                                                
|K.O.O.P. Bauplanungs- und Entwicklungsgesellschaft mit beschränkter Haftung & Co. Eichelmatenweg KG |  | Germany               |  | K.O.O.P. Bauplanungs- und Entwicklungsgesellschaft mit beschränkter Haftung & Co. Eichelmatenweg KG
|Gazit Berlin-Kladow Komplementär GmbH                                                               |  | Germany               |  | Gazit Berlin-Kladow Komplementär GmbH                                                              
|Gazit Immobilien Friedrichsdorf GmbH                                                                |  | Germany               |  | Gazit Immobilien Friedrichsdorf GmbH                                                               
|Gazit Immobilien Gütersloh GmbH                                                                     |  | Germany               |  | Gazit Immobilien Gütersloh GmbH                                                                    
|Gazit 1. Immobilien Gütersloh GmbH & Co. KG                                                         |  | Germany               |  | Gazit 1. Immobilien Gütersloh GmbH & Co. KG                                                        
|Gazit Gütersloh Komplementär GmbH                                                                   |  | Germany               |  | Gazit Gütersloh Komplementär GmbH                                                                  
|Gazit Immobilien Fachmarktzentrum Groß Gerau GmbH                                                   |  | Germany               |  | Gazit Immobilien Fachmarktzentrum Groß Gerau GmbH                                                  
|GG 1 Immobilien GmbH & Co. KG                                                                       |  | Germany               |  | GG 1 Immobilien GmbH & Co. KG                                                                      
|GG 2 Immobilien GmbH & Co. KG                                                                       |  | Germany               |  | GG 2 Immobilien GmbH & Co. KG                                                                      
|Gazit Immobilien Groß Gerau Komplementär GmbH                                                       |  | Germany               |  | Gazit Immobilien Groß Gerau Komplementär GmbH                                                      
|VUSKA Vermögensverwaltungs-gesellschaft mbH                                                         |  | Germany               |  | VUSKA Vermögensverwaltungs-gesellschaft mbH                                                        
|Gazit Brasil Ltda.                                                                                  |  | Sao Paulo, Brazil     |  | Gazit Brasil Ltda.                                                                                 
|Morumbi Town Center Empreendimentos Imobiliários Ltda.                                              |  | Sao Paulo, Brazil     |  | Morumbi Town Center Empreendimentos Imobiliários Ltda.                                             
|Shopping Caxias Empreendimentos Imobiliários Ltda.                                                  |  | Sao Paulo, Brazil     |  | Shopping Caxias Empreendimentos Imobiliários Ltda.                                                 
|Zeed Empreendimentos Imobiliários Ltda.                                                             |  | Sao Paulo, Brazil     |  | Zeed Empreendimentos Imobiliários Ltda.                                                            
|Gazit Corporate Empreendimentos Imobiliários Ltda.                                                  |  | Sao Paulo, Brazil     |  | Gazit Corporate Empreendimentos Imobiliários Ltda.                                                 
|Nidas Empreendimentos Imobiliários Ltda.                                                            |  | Sao Paulo, Brazil     |  | Nidas Empreendimentos Imobiliários Ltda.                                                           
|Chamam Empreendimentos Imobiliários Ltda.                                                           |  | Sao Paulo, Brazil     |  | Chamam Empreendimentos Imobiliários Ltda.                                                          
|Gazit Participações Empreendimentos Imobiliários Ltda.                                              |  | Sao Paulo, Brazil     |  | Gazit Participações Empreendimentos Imobiliários Ltda.                                             
|Clavas Empreendimentos Imobiliários Ltda.                                                           |  | Sao Paulo, Brazil     |  | Clavas Empreendimentos Imobiliários Ltda.                                                          
|Ganaz Empreendimentos Imobiliários Ltda.                                                            |  | Sao Paulo, Brazil     |  | Ganaz Empreendimentos Imobiliários Ltda.                                                           
|Gazit Globe Mauritius                                                                               |  | Port Louis, Mauritius |  | Gazit Globe Mauritius                                                                              
|BADA                                                                                                |  | Israel                |  | BADA                                                                                               
|Gazit Globe Holdings (1992) , Ltd.                                                                  |  | Israel                |  | Gazit Globe Holdings (1992) , Ltd.                                                                 
|Dinariv 52, Ltd.                                                                                    |  | Israel                |  | Dinariv 52, Ltd.                                                                                   
|Gazit- Globe Israel (Development) Ltd.                                                              |  | Israel                |  | Gazit- Globe Israel (Development) Ltd.                                                             



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|                                             |  |                 |  |                                             
|-------------------------------------------- |  | --------------- |  | --------------------------------------------
|Acad Building & Investments Ltd.             |  | Israel          |  | Acad Building & Investments Ltd.            
|Acad Supply & Assets (1979) Ltd.             |  | Israel          |  | Acad Supply & Assets (1979) Ltd.            
|U. Dori Group Ltd.                           |  | Israel          |  | U. Dori Group Ltd.                          
|U. Dori Building Ltd.                        |  | Israel          |  | U. Dori Building Ltd.                       
|U. Dori Infrastructure & Energy Ltd.         |  | Israel          |  | U. Dori Infrastructure & Energy Ltd.        
|U. Dori Initiation, Ltd.                     |  | Israel          |  | U. Dori Initiation, Ltd.                    
|U. Dori (Or Yehuda) Ltd.                     |  | Israel          |  | U. Dori (Or Yehuda) Ltd.                    
|U. Dori Technology and Investments Ltd.      |  | Israel          |  | U. Dori Technology and Investments Ltd.     
|I.T.R. Dori B.V.                             |  | The Netherlands |  | I.T.R. Dori B.V.                            
|Innovate Ltd.                                |  | Israel          |  | Innovate Ltd.                               
|Heart of the Gulf Ltd.                       |  | Israel          |  | Heart of the Gulf Ltd.                      
|Heart of the Gulf Assets (1994) Ltd.         |  | Israel          |  | Heart of the Gulf Assets (1994) Ltd.        
|GLA Asset Management Ltd.                    |  | Israel          |  | GLA Asset Management Ltd.                   
|GLA Center (Afula), Ltd.                     |  | Israel          |  | GLA Center (Afula), Ltd.                    
|GLA Micado Center, Ltd.                      |  | Israel          |  | GLA Micado Center, Ltd.                     
|GLA TABA 1750, Ltd.                          |  | Israel          |  | GLA TABA 1750, Ltd.                         
|GLA India, Ltd.                              |  | Israel          |  | GLA India, Ltd.                             
|G Israel Commercial Centers Ltd.             |  | Israel          |  | G Israel Commercial Centers Ltd.            
|G Kfar Saba Ltd.                             |  | Israel          |  | G Kfar Saba Ltd.                            
|G West Ltd.                                  |  | Israel          |  | G West Ltd.                                 
|G. M Area Real Estate & Building Ltd.        |  | Israel          |  | G. M Area Real Estate & Building Ltd.       
|G. Globe Development, Ltd.                   |  | Israel          |  | G. Globe Development, Ltd.                  
|Rom Geves Covering and Cooling (1997) Ltd.   |  | Israel          |  | Rom Geves Covering and Cooling (1997) Ltd.  
|Mildan Entrepreneurship and Investments Ltd. |  | Israel          |  | Mildan Entrepreneurship and Investments Ltd.
|Dorad Energy Ltd.                            |  | Israel          |  | Dorad Energy Ltd.                           
|H.L.D. Furnishings (2002) Ltd.               |  | Israel          |  | H.L.D. Furnishings (2002) Ltd.              
|Ages (Industries and Furnishings) 2005 Ltd.  |  | Israel          |  | Ages (Industries and Furnishings) 2005 Ltd. 
|G-Netherlands B.V.                           |  | The Netherlands |  | G-Netherlands B.V.                          
|G-Bulgaria EAD                               |  | Bulgaria        |  | G-Bulgaria EAD                              
|G- Macedonia AD                              |  | Macedonia       |  | G- Macedonia AD                             
|Plovdiv Retail Center EAD                    |  | Bulgaria        |  | Plovdiv Retail Center EAD                   
|Trident AD                                   |  | Bulgaria        |  | Trident AD