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| o | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------------|

| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2009 |
|---|--------------------------------------------------------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from __________ to __________ |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------|

| o | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report _____________ |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Title of each class:                         |   | Name of each exchange on which registered: |
|----------------------------------------------|--------|--------------------------------------------|
| ORDINARY SHARES, PAR VALUENIS 1.00 PER SHARE |   | NASDAQ GLOBAL SELECT MARKET                |

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| o | U.S. GAAP |
|---|-----------|

| x | International Financial Reporting Standards as issued by the International Accounting Standards Board |
|---|-------------------------------------------------------------------------------------------------------|

| o | Other |
|---|-------|

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| ITEM 19. | EXHIBITS |
|----------|----------|

| 1.1    | Amended and Restated Memorandum of Association (incorporated by reference to Appendix B to Exhibit 99.1 of Elbit Imaging Ltd.'s Report on Form 6-K filed with the Securities and Exchange Commission on April 2, 2009).                                                                                                                                                                                                                                                      |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.2    | Amended and Restated Articles of Association (incorporated by reference to Exhibit 1.2 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 26, 2008).                                                                                                                                                                                                                                                               |
| 2.1    | Form of share certificate of Elbit Imaging Ltd. (incorporated by reference to Exhibit 2.1 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 26, 2008).                                                                                                                                                                                                                                                       |
| 4.1    | Framework Transaction Agreement dated July 29, 2005, among Klepierre S.A., Plaza Centers N.V. and others (incorporated by reference to Exhibit 4.15 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 30, 2006).                                                                                                                                                                                                  |
| 4.2    | English summary of Share Purchase Agreement dated June 14, 2007, among ELS Trust Ltd., Elscint Ltd. and Manofim Finances for Israel (Mapal) Ltd. for the sale of the Arena commercial and entertainment center in Israel (incorporated by reference to Exhibit 4.14 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 2, 2007).                                                                                   |
| 4.3    | English translation of Agreement for the Provision of Consultancy Services for the Development of Real Estate Projects dated May 31, 2006, between Elbit Imaging Ltd. and Control Centers Ltd. (incorporated by reference to Exhibit 4.13 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 2, 2007).                                                                                                             |
| 4.4    | English translation of Deed of Trust dated January 31, 2008, between Plaza Centers N.V. and Reznik Paz Nevo, as amended on February 17, 2008 (incorporated by reference to Exhibit 4.6 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 30, 2008).                                                                                                                                                               |
| 4.5    | English translation of Employees, Directors and Offices Incentive Plan of 2006, as amended (incorporated by reference to Exhibit 4.6 of Elbit Imaging Ltd.'s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 26, 2009).                                                                                                                                                                                                                 |
| 4.6 *  | Framework Agreement dated April 22, 2010, among EPN GP, LLC, Macquarie DDR Management Limited, Macquarie DDR Management LLC, Developers Diversified Realty Corporation, DDR MDT Holdings II Trust, DDR Macquarie Fund LLC, DDR MDT PS LLC, DDR MDT MV LLC, Macquarie DDR U.S. Trust Inc., Macquarie DDR U.S. Trust II Inc., Macquarie MDT Holdings Trust, Macquarie MDT Holdings Inc., Belike Nominees Pty Limited and Macquarie Group Services Australia Pty Limited.  |
| 8.1 *  | List of subsidiaries.                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 12.1 * | Certification of the co-Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                   |
| 12.2 * | Certification of the co-Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                   |
| 12.3 * | Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                      |
| 13.1 * | Certification of the co-Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                   |
| 13.2 * | Certification of the co-Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                   |
| 13.3 * | Certificate of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                        |
| 15.1 * | Consent of Brightman Almagor Zohar & Co.                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 15.2 * | Table of advisors relied upon in the consolidated financial statements for the years ended December 31, 2009, 2008 and 2007.                                                                                                                                                                                                                                                                                                                                                 |
| 15.3 * | Consent of SHM Smith Hodgkinson (Romania) srl                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 15.4 * | Consent of Financial Immunities Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 15.5 * | Consent of Financial Immunities Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 15.6 * | Consent of Financial Immunities Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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| 15.7 *   | Consent of Financial Immunities Ltd.                   |
|----------|--------------------------------------------------------|
| 15.8 *   | Consent of Financial Immunities Dealing Room Ltd.      |
| 15.9 *   | Consent of BDO Ziv Haft Consulting and Management Ltd. |
| 15.10 *  | Consent of Financial Immunities Dealing Room Ltd.      |
| 15.11 *  | Consent of BDO Ziv Haft Consulting and Management Ltd. |
| 15.12 *  | Consent of Giza Zinger Even                            |
| 15.13 *  | Consent of BDO Ziv Haft Consulting and Management Ltd. |
| 15.14 *  | Consent of Giza Zinger Even                            |
| 15.15 *  | Consent of Giza Zinger Even                            |
| 15.16 *  | Consent of Giza Zinger Even                            |
| 15.17 *  | Consent of Tavor Economic Consulting Ltd.              |
| 15.18 *  | Consent of King Sturge Kft                             |
| 15.19 *  | Consent of Giza Zinger Even                            |
| 15.20 ** | Consent of KPMG Hungaria Kft                           |

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|   | Elbit Imaging Ltd. |                                          |
|--------|--------------------|-----------------------------------------------|
|   |               |                                          |   |
|   | By:                | /s/ Dudi Machluf                         |   |
|   |               | Name: Dudi Machluf                            |   |
|   |               | Title:   co-Chief Executive Officer |   |
|   |               |                                          |   |
|   | By:                | /s/ Ran Shtarkman                        |   |
|   |               | Name: Ran Shtarkman                      |   |
|   |               | Title:   co-Chief Executive Officer |   |

| Date:  January 27, 2011 |
|-----------------------------------|

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