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 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 industry once the two countries will finalise details to establish diplomatic relations in 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. Besides portfolio of Tel Aviv and Herzliya properties for sale, it also has offices in the UK, 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.
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.
Click here to read more news from @khaleejtimes