Israeli investors eye UAE property deals
Individuals and Israeli institutions are willing to invest in Dubai real estate once the two countries will finalise details to establish diplomatic relations in coming weeks.
As the UAE and Israel are holding talks this week to finalise details to set up diplomatic ties following the announcement of a peace treaty, investors have shown interest in real estate sectors of the two countries, Khaleej Times has learnt.
Industry insiders said Israeli investors, both individuals and institutions, are willing to invest in Dubai real estate once the two countries finalise details of establishing diplomatic relations in the coming weeks.
Matthew Bortnick, associate director at Tel Aviv-based Beauchamp Estates, said Israeli investors are keen to make forays into the UAE property market.
"We have received over 50 inquiries over the past two weeks from Israeli investors, both individuals and institutions, looking to get involved in the Emirati market. I've taken numerous meetings with various developers to make this a reality," Bortnick said.
Beauchamp Estates Tel Aviv specialises in sales, rentals and new homes. Aside from a portfolio of Tel Aviv and Herzliya properties for sale, it also has offices in UK, the US, France and Greece.
"Interestingly, I've also had over 20 inquiries from Emirati investors looking to invest in the Israeli property market," he said in a statement to Khaleej Times on Sunday.
"These past two weeks have kept many of us busy with nothing but the implications of the new peace deal. Exciting indeed," he added.
"These past two weeks have kept many of us busy with nothing but the implications of the new peace deal. Exciting indeed," he added.
He said Emirati investors have taken interest in beach side properties and new developments in Tel Aviv as well as private homes in Herzliya Pituach - a suburb north of Tel Aviv on the sea featuring mostly villas - wheras Tel Aviv is mostly apartments.
"Tel Aviv features more luxury high-rise developments that are similar to those properties in Dubai. Some are interested in the capital growth and long term safe investment value of these properties, as well as using them as a holiday home with Israel being only four hours away," he said.
To a question, he said Israeli investors have taken interest in similar properties in Dubai, attracted by the high yields and holiday rental use they can provide. "Prices are less than in Israel and offer higher yields for the money and are thus more accessible for most Israelis. Israelis are often excited by new untapped markets so there is a lot of excitement," he said.
Rizwan Sajan, founder chairman of Danube Group, said recent peace deal with Israel will pave the way for a new era of cooperation and shared prosperity.
"The UAE government has taken a very bold step and if everything moves as planned, these steps will create greater opportunities for all parties. Businesses will have a larger ground to cover, more customers to serve and will create a win-win situation for all. We are hopeful for the best, which is yet to come.
"With this bold step, the UAE government is creating more opportunities for local businesses. At Danube, we can see lot of investments coming from Israel as the property prices are much cheaper here compared to Israel and soon you will see UAE products in Tel Aviv and Jerusalem," he added.
Atif Rahman, director and partner at Danube Properties, said the investment and business opportunities in UAE are seasoned with a strong growth outlook.
"I believe this is the golden era of investment opportunities in the UAE and it's only natural that the most prolific investment community is getting access to this," he said.
Elaborating, he said it's all about the leadership and UAE is blessed with the best. The UAE has always been led by the most forward thinking and visionary leaders who have created an unparalleled soft and hard infrastructure in the country. The UAE is also one of the safest and most inclusive societies with a track record of tolerance.
"All these are the essential platform for businesses to thrive and grow," he said.
Atif Rahman said excellent infrastructure, strong regulatory framework, immigration reforms, trade liberalisation, geographical advantage further boost the UAE advantage. All of this put together create a unique combination of safe yet high yield investment opportunities, he said.
"It's a historical decision taken today that the future will be proud of. This move has far reaching benefits, and I am confident that the decision will commence a new era of stability for the entire Arab world," he said.
Source "https://www.khaleejtimes.com/business/local/kt-exclusive-israeli-investors-eye-uae-property-deals-"
